Wolfe Research initiated coverage of Mosaic with an Outperform rating and $39 price target. The firm said that relative year-to-date declines are attributable to negative investor sentiment, skepticism about U.S. planting acres, and ongoing frustrations about integrated rock costs. Wolfe added that Mosaic shares appear cheap compared to historical averages.
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Read More on MOS:
- Mosaic price target lowered to $40 from $42 at CIBC
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