Rothschild & Co Redburn initiated coverage of Mosaic with a Buy rating and $30 price target, implying 40% upside potential. The firm says phosphate fertilizer upgrading margins are \"unsustainably low\" and positioned recover as input costs normalize or prices firm up to incentivize production. In the medium term, structural demand growth from lithium iron phosphate batteries is set to provide support for prices, the analyst tells investors in a research note.
