MARKET TALK: Fertilizer Fortunes Stink, Smell Should Wear Off Soon

Date : 12/21/2011 @ 1:37PM
Source : Dow Jones News
Stock : Mosaic Company (The) (MOS)
Quote : 24.15  -0.01 (-0.04%) @ 10:21AM

MARKET TALK: Fertilizer Fortunes Stink, Smell Should Wear Off Soon

Mosaic (NYSE:MOS)
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1:06 (Dow Jones) Fertilizer company earnings likely to be curtailed by tumbling spot-market prices and delays in shipments to China and India, but the troubles should be temporary, Lazard Capital says. Notes buyers are delaying purchases until the spring and that inventory destocking is weighing. Also concerns about a new China potash contract and India shipments. But "it should get better soon," firm says, as destocking ends and the market focuses on strong demand in the spring. Still, cuts EPS projections for several fertilizer companies, by an average of 9% in 2012 and 7% in 2013. Most fertilizer stocks lower Wednesday, with Mosaic (MOS) down 0.5% to $49.66. (ian.berry@dowjones.com)

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