Scotia Capital upgraded Mosaic Co MOS to Sector Outperform on Monday.
Shares of Mosaic jumped 2 percent amid the upgrade.
Analyst Ben Isaacson indicated that fertilizer stocks are at a reasonable valuation and represent an opportunity for investors who can handle some volatility.
Even though Isaacson thought overall fertilizer demand will take a hit next year, the stocks are able to "snap back" quickly with the agricultural cycle.
Morgan Stanley recently reiterated an Equal-Weight rating on the company.
Mosaic Co. recently traded at $41.35, up 1.5 percent.
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