JPMorgan downgraded Mosaic (MOS) to Underweight from Neutral with an unchanged price target of $24. The company is likely to experience lower earnings in 2026 as a base case, the analyst tells investors in a research note. The firm says phosphate prices are moving lower due to affordability issues. The difficulties in the phosphate market have led to higher cost operations in South America being shuttered, JPMorgan contends. It sees negative earnings momentum in the first and second quarters of 2026 for Mosaic as a result.
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Read More on MOS:
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