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Mosaic price target lowered to $55 from $60 at RBC Capital
The Fly

Mosaic price target lowered to $55 from $60 at RBC Capital

RBC Capital analyst Andrew Wong lowered the firm’s price target on Mosaic to $55 from $60 and keeps a Sector Perform rating on the shares ahead of its Q4 results. Mosaic’s still-elevated P&K prices should support strong earnings and cash generation, but if the company undergoes more operational improvements, it could fully benefit from the elevated price environment, the analyst tells investors in a research note. RBC Capital adds that the ongoing operational challenges with phosphate production in the U.S. and Brazil have impacted Mosaic’s ability to fully benefit from elevated prices over the past 2 years, estimating that lost phosphate production and higher costs resulted in about 10%-15% of overall company EBITDA downside in 2022.

Published first on TheFly

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