Mosaic (MOS) PT Lowered to $31 at Mizuho

Mizuho analyst Edlain Rodriguez lowered the price target on Mosaic (NYSE: MOS) to $31.00 (from $33.00) while maintaining a Neutral rating.

The analyst commented: "MOS recently noted its potash volume for 2Q will be within guide of 2.2-2.4 million tons, with realized prices in the $210-$250/ton range. For phosphate, volume is pegged at 1.6-1.8 million tons, with realized DAP prices within the $530-$580/ton range. We expect MOS to report 2Q EBITDA/EPS of $596M/$0.67 (vs prior $611M/$0.76), and vs consensus of $577M/$0.67. The sharper reduction in our EPS forecast is primarily due to below-the-line-items. Phosphate prices/margins have remained elevated and will offset decline in potash earnings. We trim our 2024E EBITDA to $2.40B from $2.46B (down ~2%) and EPS to $2.70 from $3.00 (down ~10%) and vs consensus of $2.34B/$2.73. We lower our price target to $31 from $34 on reduced earnings expectations."

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• loanDepot receives NYSE non-compliance notice over stock price
• Zurn Water Solutions (ZWS) Reiterated at Buy by Stifel on New Product Development Momentum