UPDATE: Morgan Stanley Reiterates on Sociedad Quimica y Minera de Chile as Uncertainty Remains

In a report published Wednesday, Morgan Stanley analyst Javier Martinez de Olcoz Cerdan reiterated an Equal-Weight rating on Sociedad Quimica y Minera de Chile (NYSE: SQM), but removed the $30.00 price target.

In the report, Morgan Stanley noted, “SQM reported better than expected results in a tough Q4. EBITDA was 7% ahead of consensus largely on strong potash volumes. Bulls will point to the improving potash scenario while bears will note continued uncertainty in Iodine & Lithium. While long-term valuation looks attractive, we remain E/W.”

Sociedad Quimica y Minera de Chile closed on Tuesday at $31.54.