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Fly News Breaks for March 16, 2016
MOS
Mar 16, 2016 | 07:58 EDT
Morgan Stanley analyst Vincent Andrews downgraded Mosaic to Equal Weight and lowered its price target to $29 from $42. The analyst said Mosaic's phosphate assets are likely to show continued improvement due to lower cost ammonia flows and the ramp up of low cost volumes at Ma'aden II, but this is well understood, and said cash flow from operations has declined while capex has not, resulting in reduced opportunities for incremental capital returns.
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