Credit Suisse 07/10/2009 3 Neutral $3.40 28.3%
The broker notes Mosaic of the US, the global leader in the DAP market, reported weaker than expected first quarter earnings overnight but there was a positive in that phosphate sales volumes are now improving.
This leads the broker to suggest there is a chance the company can move its DAP exports at slightly higher prices than a quarter ago, which would reduce inventory overhang and cash flow concerns for the company.
While this implies FY09 earnings could now beat its estimates the broker retains its Neutral rating and $3.40 price target.
Credit Suisse 07/10/2009 3 Neutral $3.40 28.3%The broker notes...
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