Analysts covering Plymouth-based Mosaic Co. for BMO Capital Markets and Scotia Capital Inc. upgraded the producer of phosphate and potash crop nutrients to buy ratings in advance of the company's third-quarter earnings release on March 28.
BMO Capital Markets analyst Joel Jackson expects Mosaic to benefit from higher demand and commodity prices. "After months of declines, global phosphate prices have bounced off bottoms with demand picking up from buyers in many regions," he wrote.
Scotia Capital analyst Ben Isaacson also sees phosphate prices improving and believes the market is not pricing in a big stock-buyback option this summer.
Another Buy for Best Buy
On March 6 Jefferies analyst Daniel Binder upgraded Best Buy. Now Peter Keith, a New York-based analyst for Minneapolis-based Piper Jaffray, has upgraded to a "buy" recommendation. Keith believes bankruptcy is off the table at Best Buy. "What I'm really excited about is the presence of a real, sustainable, multiyear program," Keith told the Star Tribune.
Overall, 17 analysts recommend holding the stock. Nine recommend buying it.
Patrick Kennedy
