UPDATE: Goldman Sachs Reiterates Buy Rating, Lowers PT for The Mosaic Company
In a report published earlier today, the Goldman Sachs Group, Inc. reiterated its Buy rating for The Mosaic Company (NYSE: MOS), but lowered its $71.00 to $61.00.
Goldman Sachs went on to say “We remain constructive on the Fertilizer names...Our positive view is based on: (1) a view that elevated oil prices will support new crop corn prices and farmer economics, (2) our expectation that sufficiently tight nitrogen (N) and phosphate (P) supplies will drive a less negative price trajectory than the consensus view, and (3) valuations look compelling relative to history and replacement value.”
The Mosaic Company closed on Friday at $49.70.
Latest Ratings for MOS
|Jan 2017||Cowen & Co.||Upgrades||Underperform||Market Perform|
|Dec 2016||Scotiabank||Downgrades||Sector Perform||Sector Underperform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.