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Written on Fri, 12/17/2010 - 9:32am
By Chip Brian
Morgan Stanley initiated coverage of Sociedad Quimica y Minera de Chila SA (NYSE:SQM) with an equal-weight rating and $61 price target.
The bank sees 2010 EPS of $1.27 and 2011 EPS of $2.25.
Sociedad Quimica y Minera de Chile SA produces and markets specialty fertilizers including potassium nitrate, sodium nitrate, and potassium sulfate for the agricultural industry. The Company also produces industrial chemicals, iodine and lithium. SQM markets its products in over 100 countries.
Sociedad Quimica y Minera de Chile is currently above its 50-day moving average (MA) of $51.50 and above its 200-day of $41.65.
In the last five trading sessions, the 50-day MA has climbed 1.05% while the 200-day MA has risen 0.98%.
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