Piper Jaffray Reducing Estimates on Intrepid Potash (IPI) as Potash Volumes Continue to Decline
Get Alerts IPI Hot Sheet
Rating Summary:
4 Buy, 9 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
Join SI Premium – FREE
Piper Jaffray analyst, Brett Wong, is reducing estimates and lowering his price target on Intrepid Potash (NYSE: IPI) following discussions with crop input dealers across the Midwest that suggest potash volumes will decline again next year and concludes that pricing will continue to be under pressure with soft demand and global oversupply.
At current potash prices investors continue to question management’s decision to continue to run the high cost East facility. While IPI continues to pursue the East separation project in order to isolate Trio production, shares continue to trade near the bottom of the historical valuation range.
No change to Neutral rating but the price target moves to $4 (from $5) using a 5x FY16 EBITDA multiple, down from 6x.
For an analyst ratings summary and ratings history on Intrepid Potash click here. For more ratings news on Intrepid Potash click here.
Shares of Intrepid Potash closed at $3.41 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- China Resources Beer Holdings Co Ltd. (291:HK) (CRHKY) PT Raised to HK$44.67 at Jefferies
- NIU Technologies (NIU) PT Lowered to $2 at Citi
- Darden Restaurants (DRI) PT Raised to $190 at Stifel
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
Piper JaffraySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!