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Fly News Breaks for October 2, 2018
MOS
Oct 2, 2018 | 06:58 EDT
RBC Capital analyst Andrew Wong raised his price target on Mosaic to $40 and kept his Outperform rating, saying the company stands to benefit from a tightening phosphates balance because of a "lack of new capacity". The analyst also cites a "balanced potash market supported by strong shipments" as well as "constructive" agriculture fundamentals in Brazil, anticipating the stock to re-rate higher and close its valuation gap with its peer group. Wong contends that Mosaic represents an "ideal investment" in the agricultural commodity upside scenario.
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