Compass Minerals initiated with a Buy at Loop Capital

Loop Capital analyst Chris Kapsch initiated coverage of Compass Minerals with a Buy rating and $58 price target. The firm’s positive thesis is underpinned by the belief that fundamentals trends and earnings power/volatility in legacy Salt and Specialty Fertilizer businesses will normalize, Compass’s efforts to monetize the lithium resource in its asset in Utah will bear fruit, and the company’s recently-commercialized fire retardant product will contribute to earnings this year and ramp further in ensuing years, the analyst tells investors in a research note. The firm sees meaningful upside from current levels.