Soleil Starts Intrepid Potash (IPI) at Sell; $40 PT
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Soleil Securities Group initiates coverage on Intrepid Potash (NYSE: IPI) with a Sell rating and a $40 price target.
The firm said the market is currently underestimating the risks associated with Intrepid Potash. Soleil points out that Intrepid Potash has "questionable asset quality and exposure to potential biofuels backlash with 96% of sales in the U.S" and believes that these negatives are not yet priced into the stock.
After pricing at $32 and opening at $51.62, shares of Intrepid Potash have since come down slightly. Shares closed at $48.07 yesterday. Soleil's $40 price target on Intrepid Potash represents a 17% decline from current levels.
Intrepid Potash, Inc. engages in the production and marketing of muriate of potash in the United States.
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Classic Bash and Buy
Look into what happened at Etrade. Analyst Bhatia gives it the kiss of death, but turns out his company was buying it all along. Whay kind of analyst puts a rating on something without a real earnings report? Read Manipulation. That's fine because I just got in at 46 after waiting to see where the soft bottom would be.
ipi potash
what now faget SOLEIL I made money so u know what u can suck on !
IPI valuation
I am a newly Long for IPI because I see the attractive market cap (only ~3 bil). I missed MA IPO 2 years ago with similar valuation (large company with small market cap at IPO) and it ends up a big miss for me. Not saying IPI would have the same run as MA as it is a different brand and business, but 3 bil of market cap is probably too small for this company, compare to 60 bil for POT and MOS.
Backlash
Somebody backlash Soleil. Farmers just got veto proof legislation to back them up. is anyone going to hurt those rich corn farmers? by the way corn production is down 7%. Do you want to hurt Mr. Mcdonald...He needs more pot to grow more corn ! How about switch grass. Wont happen that fast. Anyway, probably need fertilizer for that too !
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ipi
jan on Jun 13, 2008 08:14 PMsoleil, with ipi at $60 and your recommendation of sell at $40 it makes one wonder who would pay a dime for your advice!