Soleil Securities Downgrades Intrepid Potash (IPI) to Sell; Lowers Estimates
IPI Hot Sheet
Rating Summary:4 Buy, 6 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Soleil Securities downgrades Intrepid Potash (NYSE: IPI) from Hold to Sell. Price target increased from $18 to $20.
Soleil analyst says, "Downgrade to Sell from Hold on price basis as the stock has exceed our prior $18 target and is now selling at a substantial premium to Potash Corp (NYSE: POT) (Hold) and Mosaic (NYSE: MOS) (Hold) on a replacement cost basis. Reducing '09E to $1.81 from $1.93 and '10E to $2.43 from $2.53 due to lower potash production and a resulting margin squeeze on unabsorbed fixed costs. Increasing price target to $20 from $18 on less conservative valuation assumptions."
Intrepid Potash, Inc (Intrepid) is a producer of muriate of potash (MOP). The Company is engaged in the production and marketing of potash and langbeinite (sulfate of potash magnesia), another mineral that contains potassium.
Soleil analyst says, "Downgrade to Sell from Hold on price basis as the stock has exceed our prior $18 target and is now selling at a substantial premium to Potash Corp (NYSE: POT) (Hold) and Mosaic (NYSE: MOS) (Hold) on a replacement cost basis. Reducing '09E to $1.81 from $1.93 and '10E to $2.43 from $2.53 due to lower potash production and a resulting margin squeeze on unabsorbed fixed costs. Increasing price target to $20 from $18 on less conservative valuation assumptions."
Intrepid Potash, Inc (Intrepid) is a producer of muriate of potash (MOP). The Company is engaged in the production and marketing of potash and langbeinite (sulfate of potash magnesia), another mineral that contains potassium.
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