UPDATE: Canaccord Genuity Reiterates Buy Rating, Lowers PT on Mosaic Company

In a report published Wednesday, Canaccord Genuity reiterated its Buy rating on Mosaic Company

, but lowered its price target from $73.00 to $68.00. Canaccord Genuity noted, “We continue to rate the shares of Mosaic a BUY but have lowered our target price to US$68.00 from US$73.00 previously based upon a 13.5x multiple to our blended F2013E/F2014E EPS of US$5.06.” Mosaic Company closed on Tuesday at $55.76.