Potash (POT), Mosaic (MOS) Lower Despite Analyst Upgrade

Despite upgrades over at Soleil Securities, ag names Potash Corp. (NYSE: POT) and The Mosaic Company (NYSE: MOS) have been unable to trade in positive territory given the broader markets drastic slides. The firm upgraded both ag stocks from Buy to Hold. Potash most recently traded at $159.04, down 1.9% from yesterday's close, while Mosaic has most recently traded at $8.39, down nearly 4% on the day.

Soleil cited recent corrections in Potash and Mosaic stock prices as its top reason for the upgrade. Over the last 8 weeks, shares of Potash have been down about 33% from all-time highs, while Mosaic's stock price has slid more than 44%. The firm has a $239 price target on Potash, representing a potential gain of more than 50% from current levels, and a $155 price target on Mosaic, which implies upside of more than 75% from today's price.

Potash Corporation of Saskatchewan Inc. is an integrated fertilizer and related industrial and feed products company.

The Mosaic Company is a producer of phosphate and potash crop nutrients for the agricultural industry.