RBC Capital analyst Andrew Wong expects a neutral reaction in Mosaic (MOS) shares to Q3 results that were above expectations and “not as bad as feared,” but offset by a lower implied Q4 outlook and lower 2025 sales volume guidance. The reduced outlook is driven by a significant step-down in Fertilizantes due to Brazil credit-related challenges, slightly lower potash sales volumes on potential demand deferral in North America, and production-related impacts in phosphate, notes the analyst, who keeps a Sector Perform rating and $30 price target on Mosaic.
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