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Fly News Breaks for November 13, 2019
MOS
Nov 13, 2019 | 07:33 EDT
JPMorgan analyst Jeffrey Zekauskas downgraded Mosaic to Underweight from Neutral with a price target of $18, down from $20. The analyst says his 2020 EBITDA forecast for Mosaic of $1.56B is about 15% lower than the Street consensus as he assumes lower potash and phosphate returns for Mosaic. He believes the domestic phosphate market did decline in 2019, which has led to low prices in the U.S. because of weak supply/demand balances.
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