Mosaic (NYSE:MOS) shares rose more than 1% intra-day today after the company received an upgrade from Oppenheimer, which raised its rating from Perform to Outperform and set a $33 price target.

Oppenheimer sees Mosaic’s Investor Day long-term targets as a key framework for investors, despite some skepticism about the company’s ability to meet them. The firm believes that Mosaic’s cost reduction initiatives and portfolio optimization strategy will unlock significant value over the next year.

Additionally, Mosaic has been relatively shielded from tariff-related pressures, which has helped provide early momentum for its shares. As its portfolio restructuring takes shape, the firm anticipates further catalysts to drive upside.

Mosaic’s long-term goal of reaching $3.3 billion to $3.5 billion in EBITDA by 2030 is seen as a solid foundation for investors evaluating its growth potential. Most of these efficiency gains are expected to materialize within the next 12 months, positioning the company for steady earnings growth.

Oppenheimer made minor adjustments to its 2025 estimates to reflect current pricing trends but raised its 2026 forecasts based on Mosaic’s updated guidance, reinforcing confidence in the company’s strategic direction.