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.

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