UPDATE: Goldman Sachs Reiterates Buy Rating, Lowers PT for The Mosaic Company
In a report published earlier today, the Goldman Sachs Group, Inc. reiterated its Buy rating for The Mosaic Company (NYSE: MOS), but lowered its $71.00 to $61.00.
Goldman Sachs went on to say “We remain constructive on the Fertilizer names...Our positive view is based on: (1) a view that elevated oil prices will support new crop corn prices and farmer economics, (2) our expectation that sufficiently tight nitrogen (N) and phosphate (P) supplies will drive a less negative price trajectory than the consensus view, and (3) valuations look compelling relative to history and replacement value.”
The Mosaic Company closed on Friday at $49.70.
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