RBC Capital Downgrades Mosaic (MOS) to Sector Perform

RBC Capital analyst Andrew Wong downgraded Mosaic (NYSE: MOS) from Outperform to Sector Perform with a price target of $65.00 (from $85.00).

The analyst commented, "We believe Mosaic remains well-positioned and shares should perform well on an absolute basis, but we lower our rating to Sector Perform, from Outperform, due to - 1) we now favour nitrogen and potash vs. phosphate; 2) valuation discount to peers has narrowed, providing less re-rating potential; 3) less upside potential to consensus estimates vs. peers; and 4) recent phosphate production challenges. We may reconsider our stance if the valuation gap re-widens, phosphate market surprises to the upside, and/or phosphate operations improve."

For an analyst ratings summary and ratings history on Mosaic click hereIT. For more ratings news on Mosaic click here.

Shares of Mosaic closed at $48.33 yesterday.

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