Bank of America Merrill Lynch Maintains Neutral on Intrepid Potash

Bank of America Merrill Lynch is out with its report today on Intrepid Potash IPI, maintaining Neutral. In a note to clients, Bank of America Merrill Lynch writes, "Many of the same factors that aided IPI's relative performance versus its larger Canpotex competitors in the recent downturn point to potential underperformance in the early stages of cyclical recovery. Price gains in domestic potash are likely to lag those in Phosphate and Nitrogen by several quarters. In addition, volume gains for regionallyfocused IPI may trail those of more globally-exposed peers." Shares of IPI closed Tuesday at $32.95, up 4.17% from Monday's close.