UPDATE: Topeka Capital Markets Initiates Intrepid Potash at Buy; Margin, Volume Improving

Topeka Capital Markets initiated its coverage on Intrepid Potash

with a Buy rating and a price target of $28. Topeka Capital Markets commented, "We are initiating coverage of Intrepid Potash with a Buy rating and $28.00 price target. Although we remain concerned about the potential for lower-than-expected volume growth for the global potash industry, we are more constructive on IPI due to its valuation and near-term opportunities to increase profitability." Intrepid Potash closed at $23.67 on Monday.