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Posted by
Two Blokes Jun 23 -
Filed in
Stock
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8 views
We initiate Intrepid Potash (IPI) with a Sell rating and $30 PT, citing global oversupply and sector headwinds limiting upside through 2026. Despite IPI's unique U.S. footprint and operational resilience, a forecasted 18.7% global capacity surge will cap pricing power and compress margins. Current valuation embeds unjustified optimism; We apply a discounted 1.40x EV/Sales multiple, reflecting sector risks and likely multiple compression ahead.
