BofA more confident in Mosaic outlook after Investor Day

BofA keeps a Buy rating and $43 price target on Mosaic (MOS) after its Investor Day, saying the firm has increased confidence about the company’s near- and longer-term outlook given Mosaic’s self-help levers that the management believes can add about $700M to EBITDA by 2030. Near-term, BofA is also greatly encouraged by additional disclosures regarding the company’s phosphate production after Mosaic provided its full quarterly forecasts for the year, the analyst tells investors in a research note.