Deutsche Bank Maintains Hold on Compass Minerals (CMP)

Deutsche Bank is out with its report today on Compass Minerals CMP, maintaining Hold. In a note to clients, Deutsche Bank writes, "With the severe winter weather depleting Compass and its customers inventories to below normal, and diesel costs up versus last year, Compass appears poised for solid pricing gains (5%-plus) in highway deicing in the '11-'12 winter season. Coupled with cost headwinds falling away, we believe Salt margins will return to a more normal 29% in the '11-'12 winter season vs 24.4% in '10-'11. While prospects in SOP look strong as well due to higher selling prices, we believe this positive outlook is largely reflected in valuation of 16.6x '11E EPS. Hold." Deutsche Bank has a $100 PT on CMP. At the time of posting, shares of CMP were trading at $91.68, up 0.23% from Friday's close.