JPMorgan Downgrades Sociedad Quimica y Minera (SQM) to Neutral

JPMorgan analyst Lucas Ferreira downgraded Sociedad Quimica y Minera (NYSE: SQM) from Overweight to Neutral with a price target of $43.00 (from $51.00).

• Steps aside noting the valuation premium is too much given low growth visibility.
• Expects equity to de-rate following material reduction in lithium volume growth expectations.
• Sees limited room for the equity and iodine price increases on the horizon due to new supply.

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 $41.22 yesterday.

You May Also Be Interested In

• Viking Holdings (VIK) PT Raised to $82 at Mizuho
• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Netease Inc. (9999:HK) (NTES) PT Lowered to HK$226 at Macquarie