Scotia Capital Has Sector Perform On Sociedad Quimica y Minera de Chile

Scotia Capital is out with a research report on Sociedad Quimica y Minera de Chile SQM as it discusses the Chilean pension fund holdings. It has a Sector Perform rating on shares and a 1 year price target of $69. In June, SQM dropped out of the top 5 holdings in pension funds. In the note, Scotia Capital writes, "The occurrence of net sales in June may be a sign that pension funds could be growing comfortable with their current level of SQM exposure; however, the SQM IPSA weight increase in July may alleviate any temporary weakness in demand. We maintain our 2-SP rating." Shares of SQM closed at $65.54 yesterday.