UPDATE: KeyBanc Capital Markets Reinstates Intrepid Potash: Buy, $30 PT

KeyBanc Capital Markets reinstated Intrepid Potash

coverage with a Buy rating and $30 price target in a research report published today. In the report, KeyBanc Capital Markets stated, "We are reinstating coverage of Intrepid Potash, Inc. (IPI-NYSE) with a BUY rating (previously NOT RATED) and $30 price target. With IPI lagging the overall market thus far in 2012 (up 3% year-to-date vs. the S&P 600 small-cap index up 7%), we feel that the challenges across the agricultural chemical sector, such as higher inventories and potash prices trending lower, is largely understood." Shares of Intrepid Potash closed today at $22.92, down 1.38% from Monday's market close.