Compass Minerals price target lowered to $60 from $75 at Stifel

Stifel analyst Vincent Anderson lowered the firm’s price target on Compass Minerals to $60 from $75 and keeps a Buy rating on the shares after having hosted meetings with the company’s CFO and head of Investor Relations. Following a review of the formal draft proposal for the Utah rulemaking process, the firm “significantly” increased the risk weighting on its lithium valuation, which results in the $15 decrease in its price target, but the firm views an end to the project’s uncertainty, regardless of the outcome, as a likely catalyst for shares, the analyst tells investors.