BofA/Merrill Lynch Upgrades Sociedad Quimica y Minera (SQM) to Buy, Positively Revises FY 2017/18/19 EPS Estimates

September 13, 2017 7:53 AM EDT
Get Alerts SQM Hot Sheet
Price: $53.14 --0%

Rating Summary:
    4 Buy, 4 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 10 | New: 6
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BofA/Merrill Lynch upgraded Sociedad Quimica y Minera (NYSE: SQM) from Neutral to Buy with a price target of $65.00 (from $49.00).

Analyst Isabella Simonato says the company is the lowest cost producer in the space and sees the company's expansion as "on track." The analyst sees an inflection point for earnings approaching from other divisions within the business, mainly iodine and potash.

FY 2017 EPS estimate rises from $1.54 to $1.69, FY 2018 EPS estimate rises from $1.65 to $2.02 and FY 2019 EPS estimate rises from $1.99 to $2.20.

For an analyst ratings summary and ratings history on Sociedad Quimica y Minera click here. For more ratings news on Sociedad Quimica y Minera click here.

Shares of Sociedad Quimica y Minera closed at $52.20 yesterday.

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