MOS - Mosaic CF downgraded at HSBC on less demand for fertilizer

Mosaic ( NYSE: MOS ) on Tuesday was downgraded to Reduce from an investment rating of Hold, while CF Industries Holdings ( NYSE: CF ) was cut to Hold from Buy by analysts at HSBC. They said the companies face risks to growth because of less demand for fertilizer.

“Fertilizer companies have guided for a strong 2023 demand season on pent-up demand, high crop prices and expectation that farmers could plant more corn (+3%-5%), which is usually input-intensive,” Santosh Seshadri, analyst at HSBC, said in a February 21 report. “However, there is an increasing chance that the recovery could be tepid in 2023 and a full-out demand recovery could be pushed out to 2024.”

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