UBS Cuts Price target on The Mosaic Company (MOS) Following Revised 3Q Guidance
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Rating Summary:
13 Buy, 17 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 11
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UBS reiterated a Buy rating on Mosaic (NYSE: MOS), and cut the price target to $49.00 (from $52.00), following revised 3Q guidance. As a result of the weaker market conditions, MOS plans to reduce potash production by extending maintenance downtime at its Colonsay mine.
Analyst Brian MacArthur commented, "MOS has revised its Q3 guidance in response to weaker-than-anticipated crop nutrient conditions, primarily related to delayed fertilizer purchases in Brazil and North America. MOS believes that currency volatility, lower grain and oilseed prices, economic uncertainty, and volatility in global equity markets have all adversely impacted market sentiment and led to a softer market than had been anticipated when guidance was provided in early August."
For an analyst ratings summary and ratings history on Mosaic click here. For more ratings news on Mosaic click here.
Shares of Mosaic closed at $36.44 yesterday.
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