Mosaic price target lowered to $28 from $31 at Mizuho

Mizuho lowered the firm’s price target on Mosaic to $28 from $31 and keeps a Neutral rating on the shares as part of a Q3 earnings preview. The firm continues to believe “this is not the time to be positive on fertilizer stocks.” The agriculture complex remains under pressure due to declining crop prices that will likely impact farmers’ income and incentivize them to focus on minimizing expenses instead of maximizing revenue, the analyst tells investors in a research note. Mizuho believes this will make it challenging for fertilizer prices to rise which, in turn, will constrain earnings.