Mosaic price target raised to $42 from $34 at Scotiabank

Scotiabank analyst Ben Isaacson raised the firm’s price target on Mosaic (MOS) to $42 from $34 and keeps an Outperform rating on the shares. The firm believes investors should lighten exposure to fertilizer stocks going forward and notes Mosaic is the only remaining Buy stock in the Global Fertilizers sector under its coverage, the analyst tells investors. The firm cites grower sentiment, NPK pricing, valuation, and investor sentiment as reasons for the downshift for fertilizer exposure.