UPDATE: Macquarie Capital Downgrades The Mosaic Company On Near-Term Pain, Long-Term Gain

In a report published Thursday, Macquarie Capital analyst Andrew Russell downgraded the rating on

from Outperform to Neutral, and lowered the price target from $55.00 to $52.00. In the report, Macquarie Capital noted, “We downgrade our rating on MOS to Neutral (from Outperform), as we view an uptick in potash pricing near term as likely limited, with a surge in capacity combining with consumption likely falling short of notably high expectations. While we continue to expect solid postings from the firm's Phosphate division, supported by a solid balance sheet offering further opportunities for capital deployment, our tepid potash outlook dampens our enthusiasm. As such, we move to the sidelines and await a better entry point.” The Mosaic Company closed on Wednesday at $50.00.