Compass Minerals initiated with a Neutral at BTIG

BTIG analyst Gregory Lewis initiated coverage of Compass Minerals with a Neutral rating and no price target. Compass is an established North American miner that has been producing salt for more than five decades and is expanding its essential minerals business with sulfate of potash for fertilizer while in the process of developing a lithium project in Utah, the analyst tells investors in a research note. The firm is bullish on both sulfate of potash and lithium demand in the medium and long term, but starts the shares at Neutral owing to execution risk around the lithium project.