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Fly News Breaks for October 10, 2018
MOS
Oct 10, 2018 | 09:29 EDT
Citi analyst P.J. Juvekar upgraded Mosaic to Buy from Neutral and raised his price target for the shares to $40 from $36. The analyst believes phosphate supply and demand is "looking more favorable" and that fertilizer prices were strong in Q3. Prices don't need to rise much to justify a Buy rating on Moasic, Juvekar tells investors in a research note. Further, he believes phosphate prices could benefit from potential environmental restrictions in China.
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