This morning, Citigroup upgraded shares of Mosaic (NYSE:MOS) from Hold to Buy as pricing and demand for potash is picking up steam. Citigroup set a price target of $78 per share in its report, representing an upside of 16% from the current share price of Mosaic.
Also benefitting from the upgrade are shares of the PowerShares Global Agriculture Portfolio ETF (NASDAQ:PAGG) which is higher by almost 1.9% currently and shares of the Market Vectors Agribusiness ETF (AMEX:MOO) which has gained 1.8%. Mosaic accounts for 8.2% of PAGG and 8.1% of MOO.
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