Mosaic (MOS) PT Lowered to $36 at Stifel

Stifel analyst Vincent Anderson lowered the price target on Mosaic (NYSE: MOS) to $36.00 (from $41.00) while maintaining a Hold rating.

The analyst commented, "We are updating our 3Q23 estimates for observed pricing in the quarter, as well as adjusting our 2023 and 2024 estimates for our updated price deck. On net, our potash prices are lowered through 2024, while our phosphate prices have increased in the short term (given the current pace of market pricing). Chinese phosphate exports, and uncertainties surrounding India's phosphate subsidies as well as the re-opening of the US CVD duties against Morocco and Russia could weigh on phosphate prices beyond our current expectations. We maintain our Hold rating and update our target price to $36."

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