JPMorgan Downgrades Mosaic (MOS) to Neutral

JPMorgan analyst Jeffrey Zekaukas downgraded Mosaic (NYSE: MOS) from Overweight to Neutral with a price target of $20.00 (from $24.00).

The analyst comments "Mosaic is making good progress in reducing its cost structure in its Brazilian operations and in speeding its transition to a new shaft with much lower operating costs at its Esterhazy potash mine. These efforts and their related benefits, however, are not short term. A strong rally in the value of cyclical companies generally is lifting share prices across the board despite deteriorating near-term business fundamentals."

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 $21.65 yesterday.

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