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Mosaic price target raised to $46 from $43 at BofA

BofA analyst Steve Byrne raised the firm’s price target on Mosaic (MOS) to $46 from $43 and keeps a Buy rating on the shares. Earnings remain “exceptionally strong this year,” says the analyst, who raised estimates through 2027. The change “is not solely driven just by another (positive) change in our fertilizer price deck,” though near-term phosphate prices continue to exceed expectations, but it is also a reflection of significant structural improvements and continued progress towards targets laid out at the company’s recent investor day and reiterated last week, the analyst tells investors.

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