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Fly News Breaks for February 14, 2020
MOS
Feb 14, 2020 | 06:16 EDT
Citi analyst P.J. Juvekar downgraded Mosaic (MOS) to Neutral from Buy with a price target of $21, down from $29. The analyst cites high inventories and flatter cost curves for the downgrade. The impact of coronavirus seems negative for demand in China, Juvekar tells investors in a research note. Chinese crop nutrient diammonium phosphate prices have hardly moved since the virus outbreak, the analyst points out. He prefers agriculture investors to focus on FMC Corporation (FMC), his to pick, and Corteva (CTVA).
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