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.
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Created by Dividend.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
