Scotiabank upgraded Mosaic (MOS) to Outperform from Sector Perform with a $36 price target The firm sees a phosphate stripping margin bottom, saying the market balance should tighten when demand recovers. This is further supported by downside price risk to ammonia and sulphur, the analyst tells investors in a research note. Scotiabank cites its phosphate outlook and valuation for the upgrade of Mosaic.
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Read More on MOS:
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