Mosaic price target raised to $29 from $28 at Mizuho

Mizuho raised the firm’s price target on Mosaic (MOS) to $29 from $28 and keeps a Neutral rating on the shares. The firm says phosphate prices remained elevated and affordability has deteriorated, but there is nothing on the near-term horizon that should change the current tight supply/demand dynamics. A lack of earnings growth and limited prospects for higher fertilizer prices will continue to weigh on Mosaic’s sentiment and valuation multiples, the analyst tells investors in a research note.