Goldman Sachs Says Buy Mosaic (MOS) On Weakness After Q3 Miss

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March 30, 2012 7:48 AM EDT
Get Alerts MOS Hot Sheet
Price: $23.35 --0%

Rating Summary:
    11 Buy, 20 Hold, 9 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 5 | New: 25
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Goldman Sachs reiterated their Buy rating and raised their price target on Mosaic (NYSE: MOS) from $67 to $71 following weaker-than-expected Q3 results. The firm said the stock should be bought on weakness.

The miss was driven by weaker Phosphate margins with high-cost raw materials taking longer to flow through. They cut their Q4 EPS estiamtes from $1.52 to $1.00, to reflect weaker revenue guidance in both P and K with near-term inventory pressures taking a bit longer to resolve.

Goldman is maintaining their bullish view on the stock based on a "positive earnings inflection expected in FY13 and the opportunity to unlock value over time".

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 $55.27 yesterday.

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