Mosaic price target lowered to $25 from $29 at BofA

BofA lowered the firm’s price target on Mosaic (MOS) to $25 from $29 and keeps a Neutral rating on the shares. Valuation is “likely approaching a floor” and longer term the firm is bullish on phosphates and expects sulfur to be materially lower. However, “assessing the ultimate trough is difficult” and headwinds are likely to linger through year-end given the nature of Mosaic’s contracting, the analyst tells investors.