Mosaic (MOS) is expected to see various positive operating catalysts in the next six to 12 months amid a tight phosphate market, RBC Capital said in a Thursday note.
The catalysts include increased phosphate production, lower potash costs, as well as higher distribution volumes in Brazil, where the company has a production and distribution business, RBC said.
RBC said it expects tightness in phosphate markets to continue because of steady demand growth and limited supply.
The analysts also said they believe "the US market is especially tight given tariff and countervailing duties, which benefits Mosaic as a domestic producer."
RBC upgraded the company to outperform from sector perform and raised its price target to $40 from $30.
Price: 31.57, Change: +0.01, Percent Change: +0.03
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