The Mosaic Company (MOS) PT Jumps To $30 At Cowen After Company Visit
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Cowen analyst, Charles Neivert, reiterated his Outperform on Mosaic (NYSE: MOS) and raised the price target to $30.00 (from $26.00) after conducting a research trip to Brazil to meet with management, visit production sites, and inspect the progress made on mandated fixes to tailing dams at phosphate rock sites.
The analyst stated "We have raised our estimates for FY19 and FY20 based on our belief that a combination of U.S. grain conditions and production, as well as improving operations in Brazil (through synergy and Brazilian market gains), will increase earnings. We raised our FY19 estimate on a rebound in 2H19 attributed to high corn acreage estimates for spring 2020 and above average application of all nutrients in the fall of 2019. Earnings would be higher still were it not for the issues in Brazil around tailing dams and the higher cost of production for phosphate chemicals"
Shares of Mosaic closed at $23.43 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesCowen & Co, Earnings
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