SQM price target raised to $55 from $45 at BMO Capital

BMO Capital raised the firm’s price target on SQM (SQM) to $55 from $45 and keeps an Outperform rating on the shares. The firm is adjusting its model with a mark-to-mark our lithium price deck update reflecting the better spot and futures prices in the market, the analyst tells investors in a research note. BMO adds that it remains constructive on SQM on valuation and believes that the investment story and commodity are moving off of trough sentiment.