Mosaic: Re-rating Opportunity as Fertilizer Tightness Meets Cheap Book Value
Mosaic (MOS) looks materially undervalued relative to asset replacement and near-term market catalysts. The stock trades at roughly 0.62x book and an enterprise value to EBITDA of about 6.9, while fertilizer supply disruptions and a new rare-earths project create optionality. We upgrade MOS to a long trade with a clear entry, stop and target and a …