March 26, 2019 / 12:50 PM / 9 months ago

BUZZ-Mosaic Co: Little scope for upside to earnings estimates - Berenberg

** Berenberg initiates coverage on chemical co with “hold” and price target of $30

** Brokerage says co’s discount to rival Nutrien Ltd justified given the short-term weakness in the North American phosphate market

** “We think the discount the market applies is fair given there is little scope for upside in earnings estimates, as we expect pricing to be flat in both potash and phosphates,” says Berenberg

** 9 of 20 brokerages rate the stock “buy” or higher, 10 “hold” and 1 “sell”; median PT $37

** Up to Monday’s close, stock had fallen ~8 pct this year (Reporting by Debroop Roy in Bengaluru)

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