Mosaic price target lowered to $30 from $32 at CIBC

CIBC lowered the firm’s price target on Mosaic (MOS) to $30 from $32 and keeps a Neutral rating on the shares. The firm notes the company’s Q3 miss was driven primarily by the Fertilizantes segment as the potash and phosphate results were largely in line. CBIC is lowering its 2024 and 2025 estimates to reflect a slightly lower potash price assumption and lower contribution from Fertilizantes.