Morgan Stanley Reiterates Overweight Rating, $70 PT on Mosaic Co.
In a report published Wednesday, Morgan Stanley reiterated its Overweight rating and $70.00 price target on Mosaic Co. (NYSE: MOS).
Morgan Stanley noted, “The turn of the calendar combined with China's 1H13 potash contract settlement clear two of the four hurdles that we see for a re-rating ahead of the material balance sheet transformation that is likely to begin after May 25. We nudge F2Q13 EPS higher and F2013 lower, both remain below consensus.”
Mosaic Co. closed on Monday at $56.63.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.