Earning Plays

[3xBuBu]

Intrepid Potash Earnings Jump, But Shares Off on Analyst Initiation

(Midnight Trader Via Acquire Media NewsEdge) Boston, Jun 02, 2008 (MidnightTrader via COMTEX News Network) --

Intrepid Potash Inc (IPI), reported strong Q1 earnings on higher sales, but stocks edged lower after Goldman Sachs initiated coverage with a "neutral" rating, seeing only modest upside potential.

Shares are off about 1% but still trading over their pre-market close of $47.95 although they are well off a pre-market high of $52.04.

The company, which went public in April, reported a net of $33.1 million from $6.4 million a year earlier. On a pro forma basis, earnings increased to 27 cents a share from 5 cents. The stock is up 50% from its market debut on April 22.

The Goldman analyst noted the company's strong fundamentals, a scarcity of potash, which is used in fertilizer, and the company's plans to increase production. Goldman set a $55 price target.




My posting is for my own entertainment, do your own DD before pushing your buy/call button