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Fly News Breaks for November 6, 2019
MOS
Nov 6, 2019 | 08:09 EDT
JPMorgan analyst Jeffrey Zekauskas downgraded Mosaic to Neutral from Overweight with a price target of $20, down from $24. The analyst "substantially" reduced his EBITDA forecast for Mosaic in 2020 due to weak pricing dynamics in both potash and phosphate fertilizers. The company is "worthwhile long-term investment," but more appropriate entry points into the shares can be achieved in the coming months, Zekauskas tells investors in a research note.
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