UPDATE: Goldman Sachs Cuts PT to $64 on Compass Minerals International to $65 on Operational Guidance
Goldman Sachs reiterated its Sell rating on Compass Minerals International (NYSE: CMP) and lowered its price target from $66 to $65.
Goldman Sachs commented, "The updated operational guidance reflects a negative product mix effect in the company's Consumer and Industrial Salt segment due to lower sales of higher-value packaged deicing products. CMP noted that this resulted from retailers continuing to carry strong inventories of packaged deicing inventories from last winter into this season. In combination with the aforementioned costs/tax changes, the lingering effects from the mild 2011-2012 winter season continue to put pressure on CMP's results, and while business conditions may begin to normalize in 2013, unpredictable weather effects are still a risk to current assumptions."
Compass Minerals International closed at $76.85 on Wednesday.
Latest Ratings for CMP
|Jul 2014||JP Morgan||Maintains||Overweight|
|Apr 2014||JP Morgan||Upgrades||Neutral||Overweight|
|Apr 2014||JP Morgan||Maintains||Overweight|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.