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Intrepid Potash, Inc.
IPI is expected to report higher sales volumes, but will not be able to fully partake in the robust marketplace that is anticipated in the coming quarters, according to Dahlman Rose.
Dahlman reports that Intrepid Potash faces challenges from production and capacity limitations that will curb its earning power.
For Fall 2010, volumes are expected to come in around ~750K tons, well below its capacity of 910K tons, and with industrial sales in the Rocky Mountains lagging, Intrepid is unable to sell industrial grade product to the agricultural markets.
Dahlman Rose had downgraded Intrepid Potash to "sell" and price target of $18.
Intrepid Potash, Inc. closed yesterday at $24.07.
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