SQM initiated with an Outperform at Bradesco BBI

Bradesco BBI initiated coverage of SQM with an Outperform rating and $100 price target, which represents 36% total return. SQM is a top global lithium producer headquartered in Chile, with an additional leading presence in the iodine and fertilizer markets, the analyst tells investors in a research note. The firm sees lithium prices "remaining higher for longer" due to tight supply/demand dynamics and sees a solid growth pipeline for SQM.