Compass Minerals International (NYSE:CMP) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, StockRatingsNetwork.com reports. The firm currently has a $66.00 target price on the stock, up from their previous target price of $65.00. JPMorgan Chase & Co.’s price objective indicates a potential downside of 9.66% from the stock’s previous close.
The analysts wrote, “We lift our rating for Compass Minerals from Underweight to Neutral. CMP shares have increased 6% since the beginning of 2012 versus a 34% increase in the S&P 500 Index over the same period. Our Neutral rating for CMP reflects what we now view to be a reasonable valuation for Compass, a major producer of consumer and highway deicing salt and specialty fertilizer. We find Compass shares to be fully valued at current levels. CMP shares trade at an EV/EBITDA multiple of 10.3x based on 2014 estimates versus its specialty chemicals peer group at 9.3x, and versus fertilizer peers, Potash Corp and Mosaic, at 7.8x and 7.2x, respectively. We rate Compass Minerals Neutral for year-ahead performance.”
Shares of Compass Minerals International (NYSE:CMP) opened at 73.06 on Wednesday. Compass Minerals International has a 52 week low of $64.24 and a 52 week high of $91.88. The stock’s 50-day moving average is currently $86.79. The company has a market cap of $2.433 billion and a P/E ratio of 25.70.
Compass Minerals International, Inc (NYSE:CMP) is a producer of minerals, including salt, sulfate of potash specialty fertilizer (SOP) and magnesium chloride.
