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UPDATE: JP Morgan Raises PT to $64 on Mosaic on Outlook for Share Repurchase

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Benzinga's M&A Chatter for Wednesday December 10, 2014
Mosaic Co Shares Are Running Into A Ceiling

JP Morgan reiterated its Overweight rating on Mosaic (NYSE: MOS) and raised the price target from $56.00 to $64.00.

JP Morgan noted, "Global potash prices are ready to move lower with Chinese contracts signed $70/t below the prior-year price. Phosphate is trading down slowly as Indian demand has dried up and the rest of the world is reluctant to purchase, awaiting further price erosion. We believe, however, that Mosaic is likely to use its $2.6 billion (or $6.00/per share) net cash position to engineer a material share repurchase in the second half of 2013 and spur shareholder value creation."

Mosaic closed at $59.74 on Friday.

Latest Ratings for MOS

DateFirmActionFromTo
Nov 2014CitigroupMaintainsNeutral
Nov 2014SusquehannaUpgradesNeutralPositive
Nov 2014CitigroupMaintainsNeutral

View More Analyst Ratings for MOS
View the Latest Analyst Ratings

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