Raising SQM Fair Value Estimate to $22 from $18 Following Better-Than-Expected Second Quarter
We've raised our fair value estimate for SQM to $22 per share from $18 previously following better-than-expected second-quarter results. While gross profits declined 11% from the previous year due to lower potash and iodine prices, the decrease was less than we had forecast. Lithium prices and cost-cutting across various business units also came in better than we had expected. Based on lower unit costs and a more limited decline in iodine prices, we have raised our long-term cash flow forecasts ...
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