SQM price target lowered to $75 from $80 at BMO Capital

BMO Capital lowered the firm’s price target on SQM to $75 from $80 and keeps an Outperform rating on the shares. The firm is adjusting its model based on the iodine and lithium price estimates, the analyst tells investors in a research note. BMO adds that SQM’s production and expansion pace continue to impress, though with the company prioritizing max production and capacity growing, “inventory should build until broader market re-stocking”.