Market Overview

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

Related IPI
Among A Raft Of Index Changes, Affiliated Managers Group To Join S&P 500
Earnings Scheduled For April 30, 2014

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.

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

 

Most Popular

Related Articles (IPI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free