Fertilizer maker The Mosaic Company ( MOS ) on Friday caught a big downgrade from analysts at JPMorgan.
The firm said it cut its rating on MOS from "Overweight" to "Neutral" with a $57 price target. That target suggests an 11% upside to the stock's Thursday closing price of $51.13.
JPMorgan also lowered its earnings estimates for the company, citing lower phosphate selling prices and weaker potash volumes.
Mosaic shares fell 84 cents, or -1.6%, in premarket trading Friday.
The Bottom Line
Shares of Mosaic ( MOS ) have a .39% dividend yield, based on last night's closing stock price of $51.13. The stock has technical support in the $40-$47 price area. If the shares can firm up, we see overhead resistance around the $55-$60 price levels.
The Mosaic Company ( MOS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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