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Cowen and Company Raises Mosaic’s Price Target to $35

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Mosaic’s price target

Yesterday, May 17, Cowen and Company raised its price target for Mosaic (MOS) to $35 per share from its previous target of $32. MOS stock had an “outperform” rating yesterday and rose ~1.1% to $28, taking its year-to-date returns to 9.2%. On May 15, Stifel raised its target price for Mosaic to $32 from $28.

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Consensus rating

The mean consensus rating for Mosaic was unchanged at 2.5 from our last update on May 11. The number of analysts recommending a “strong buy” was also unchanged at three. However, the number of analysts recommending a “buy” increased to five from four since our last update. The number of analysts recommending a “hold” thus fell to nine from ten, and two analysts continued to recommend a “sell” as of May 17.

Price target rise

With the recent upgrades, the consensus mean price target for Mosaic rose to $29.74 from $29.40 since our last update on May 11. The median price target remained unchanged at $28. Its recent consensus price target offers an upside of 6.1% over the close of $28 on May 17.

Wall Street analysts appear to be warming up to fertilizer stocks (MOO), with CF Industries (CF) recently receiving upgrades as well. In contrast, Nutrien’s (NTR) (POT) price target was cut yesterday. We’ll look at that in more detail in the next part and offer some context on what may be driving analysts’ sentiments for upgrades in the fertilizer industry.

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