KeyBanc Reinstates Coverage on Intrepid Potash (IPI) at Buy; Challenges Understood; Enhanced Growth Potential

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April 25, 2012 7:35 AM EDT
Get Alerts IPI Hot Sheet
Price: $37.89 -2.8%

Rating Summary:
    4 Buy, 9 Hold, 8 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 7 | New: 77
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KeyBanc reinstates coverage on Intrepid Potash (NYSE: IPI) with a Buy. PT $30.00.

KeyBanc analyst said, "With IPI lagging the overall market thus far in 2012 (up 3% year-to-date vs. the S&P 600 small-cap index up 7%), we feel that the challenges across the agricultural chemical sector, such as higher inventories and potash prices trending lower, is largely understood. While we acknowledge these headwinds, we still believe that over the long term potash demand in the United States will be helped by decent underlying farmer economics and an increase in acres planted."

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 $22.92 yesterday.

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