UPDATE: Morgan Stanley Reiterates On Sociedad Quimica y Minera de Chile As Uncertainty Remains

In a report published Wednesday, Morgan Stanley analyst Javier Martinez de Olcoz Cerdan reiterated an Equal-Weight rating on

, but removed the $33.00 price target. In the report, Morgan Stanley noted, “EBITDA was slightly ahead of consensus largely on strong potash volumes and good industrial margins. Bulls will focus on potash bottom out while bears will note continued uncertainty in Iodine & Lithium. Risk/Reward is improving, but we expect SQM to trade in a range and remain E/W.” Sociedad Quimica y Minera de Chile closed on Tuesday at $28.66.