Citi Downgrades Mosaic (MOS), Potash (POT); Says Take Profits

Shares of Mosaic (NYSE: MOS) and Potash (NYSE: POT) are down 2.4% and 2.7% respectively this morning following an earlier downgrade from analysts at Citigroup. While Mosaic last traded at $79.70, Potash shares are currently around $56.70.

Citi cut both stocks from Buy to Hold and recommended that investors take profits in the fertilizer stocks as although fundamentals of the fert cycle are intact, too "much of the good news" is already baked into the stocks.

The firm notes that higher grain prices have recently been driven by farmers using more fertilizer, Citi argues that this assumption could see diminishing returns looking ahead.

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