UPDATE: BMO Capital Markets Raises Compass Minerals' PT
According to a research report published this morning, BMO Capital Markets has increased Compass Minerals' (NYSE: CMP) PT from $72 to $80.
In the report, BMO Capital Markets said, "The last year or so has been unlucky for CMP, and 2012 could realistically represent trough earnings considering the aftermath of the Goderich tornado, one of the mildest U.S. winters on record, and a poor 2011 evaporation season at the Utah SOP production facility. That being said, all of these events reduce our ability to model CMP with a “normal” level of confidence. Can CMP actually reach $6-plus of EPS in 2013 as per our forecast? It is not difficult for the model to get there assuming a normal winter, 3% Highway Deicing price growth for the 2013/14 winter, and what would seem to be a more normalized cost structure for Salt and SOP."
BMO Capital Markets maintains its Market Perform rating on Compass Minerals, which is currently trading at $76.25.
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