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Analysts Upgraded Price Target for SQM in September

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Sociedad Quimica y Minera de Chile

Sociedad Quimica y Minera de Chile (SQM) has gained significant ground so far this year with the stock up by almost 105% as of September 18, 2017. The company, which produces lithium, has garnered a lot of attention from electric car manufacturers. Recently, electric cars have taken a center stage. Lithium is used in the production of batteries for these cars.

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Analyst rating

The current consensus mean rating on SQM for the next-12-month period stood at 2.6 with a “hold” recommendation. Out of the 13 analysts surveyed by Reuters, only two analysts had a “strong buy” recommendation on the stock, while two had a “buy” recommendation on the company for the next-12-month period.

A total of eight analysts have a “hold” recommendation on the stock for the next 12 months. Most analysts have a hold rating on the stock, which is a similar trend we’ve observed in the ratings for peers (XLB) such as  Monsanto (MON), PotashCorp (POT), and Mosaic (MOS).

Also, only one analyst had a “sell” recommendation, while none had a “strong sell” recommendation on the stock for the next 12-month period.

Price target

The consensus mean analyst price target for SQM stood at $46.4 per share for the next 12 months. This is almost 21% lower than the current price of $59 as of September 18, 2017. Compared to last month’s iteration, SQM’s target price was upgraded by 13.5% from $40.9.

Read on to know what analysts recommend for the Scotts Miracle-Gro Company (SMG).

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