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

Topeka Capital Markets initiated coverage on Intrepid Potash (NYSE: IPI) 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.

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