Mosaic price target raised to $35 from $29 at JPMorgan

JPMorgan raised the firm’s price target on Mosaic (MOS) to $35 from $29 and keeps an Overweight rating on the shares. Mosaic is the most inexpensive of the fertilizer companies and has the strongest product price and earnings dynamics because of its focus in potash and phosphates, the analyst tells investors in a research note. The firm says potash prices are rising in the U.S., Brazil and Asia, and China and India, which do not have excess potash inventories, and are yet to sign their annual contracts. New contract signings are likely to keep markets from loosening, contends JPMorgan.