Mosaic downgraded at Oppenheimer after ‘weak’ Q4 pre-announcement

Oppenheimer downgraded Mosaic (MOS) to Perform from Outperform and removed the firm’s previous $35 price target following the company’s “weak” preliminary Q4 results. While the firm expects Mosaic to continue to make progress on its operating rate, there is “no clear catalyst for improving demand this crop year,” says the analyst, who believes the backdrop of tight sulfur conditions will persist into the first half of 2026.