UPDATE: Bank of America Merrill Lynch Reiterates Buy Rating, Lowers PT on The Mosaic Company
In a report published Wednesday, Bank of America Merrill Lynch reiterated its Buy rating on The Mosaic Company (NYSE: MOS), but lowered its price target from $70.00 to $68.00.
BofA Merrill Lynch noted, “We see MOS as an attractive core holding in fertilizers. While the near-term industry outlook is mixed, we find valuation attractive in light of several company-specific catalysts: (1) a potash capacity increase of 1.3mn tons or 13% in January 2013, (2) a related increase in Mosaic's Canpotex export allocation, (3) brown field potash expansions at attractive economics, and (4) net positive developments relating to the May 2011 split-off of Cargill's ownership stake.”
The Mosaic Company closed on Tuesday at $55.76.
Latest Ratings for MOS
|Aug 2016||Vertical Research||Downgrades||Hold||Sell|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.