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UPDATE: BMO Capital Markets Reduces Mosaic Company PT to $57 on Negative Offshore Outlook

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Ex-Dividends For June 3, 2014
UPDATE: Macquarie Capital Downgrades The Mosaic Company On Near-Term Pain, Long-Term Gain

In a report published Tuesday, BMO Capital Markets slashed $6 from The Mosaic Company (NYSE: MOS) price target of $63 to $57, citing negative short-term offshore outlook, but maintained its Market Perform rating.

BMO Capital Markets noted, "MOS remains rated Market Perform, but we lower our target price to $57 from $63. The lowered guidance is not surprising as global potash and phosphate demand indications have not improved with Chinese/Indian potash contracts pushing out, and the expectations that meaningful Indian import phosphate demand may not return for several months. It could get worse before it gets better. F2013E earnings may not rise from F2012, but F2014E earnings should be a step up from a full-year of repatriated Esterhazy mine capacity, and better phosphate margins (lower phosrock and ammonia costs), coupled with more capital allocation flexibility as Cargill-related restrictions start to unwind."

Mosaic Company closed at $48.68 on Tuesday.

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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