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UPDATE: Goldman Sachs Resumes Intrepid Potash at Neutral on Execution Challenges

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Goldman Sachs resumed coverage on Intrepid Potash (NYSE: IPI) with a Neutral rating and a $23 price target.

Goldman Sachs commented, "While we hold a positive view of IPI's long-term volume growth from the low-cost HB Solar mine and leverage to a turn in potash fundamentals, we see risk to 2013 consensus forecasts as Trio production could disappoint given ongoing challenges at the company's East facility. Given our expectations for capex near peak levels in 2013, we prefer to take a wait-and-see approach on 2014-15 growth despite an undemanding current valuation (7.4x 2013 EV/EBITDA)."

Intrepid Potash closed at $22.72 on Tuesday.

Latest Ratings for IPI

DateFirmActionFromTo
Oct 2014BMO CapitalUpgradesUnderperformMarket Perform
Oct 2014SusquehannaUpgradesNegativeNeutral
Aug 2014BGC PartnersDowngradesHoldSell

View More Analyst Ratings for IPI
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Initiation Intraday Update Analyst Ratings

 

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