Oppenheimer Reiterates Outperform Rating on Innophos Holdings (IPHS)

Oppenheimer is out with a research report this morning, where it reiterates its Outperform rating on Innophos Holdings IPHS; it has a $47.00 price target on the stock. The Oppenheimer analysts cited the company's recent earnings release, which was better than their estimates. Revenue and margin were stronger than planned, led by soaring GTSP fertilizer, which is expected to accelerate, adjusted for $9M hurricane swings in 3Q-4Q. This strong rebound supports the analysts' constructive stance that skittish investors who sold the stock after noisy 3Q results were missing the primary turn in broad specialty phosphate pricing power and resurgent fertilizer profitability.