Market Overview

UPDATE: Dahlman Rose Downgrades Intrepid Potash to Sell on Weaker 2013 Outlook

Related IPI
Credit Suisse: 3 Basic Materials Stocks To Consider And 1 To Avoid
Fertilizer Companies Surge After Uralkali Mine Develops Sinkhole

Dahlman Rose downgraded Intrepid Potash (NYSE: IPI) from Hold to Sell and announced a $16.00 price target.

Dahlman Rose commented, "Following 4Q12 results, we see a weaker 2013 outlook for the potash market. Cap-ex is late to the expansion party and free cash flow is suffering as others payout earnings. … We have revised our 2013 estimates downward below consensus to reflect increased volume but higher cost expectations and lower prices for Potash versus our prior estimates. … We are downgrading the stock to a Sell rating with a price target of $16/share, as we believe it is overvalued at current levels of 9.8x and 22.0x our 2013 EBITDA and EPS estimates, respectively."

Intrepid Potash closed at $20.68 on Friday.

Latest Ratings for IPI

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

View More Analyst Ratings for IPI
View the Latest Analyst Ratings

Posted-In: Dahlman RoseAnalyst Color Downgrades Analyst Ratings


Related Articles (IPI)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional