On Wednesday, BofA Securities made adjustments to its outlook on Sociedad Quimica y Minera (NYSE: SQM), a global supplier of plant nutrients and chemicals. Analysts at BofA Securities revised the price target for SQM stock downward to $36.50 from the previous target of $37.00. Despite this change, they have decided to maintain the Underperform rating on the company's shares. According to InvestingPro data, SQM is currently trading near its 52-week low of $31.27, with analyst targets ranging from $35 to $80. The revision follows SQM's first-quarter financial performance for the year 2025, which did not meet expectations set by BofA Securities. Although SQM's sales figures were consistent with predictions at $1.04 billion, showing a 4% year-over-year decline, the company witnessed growth in specialty plant nutrition (SPN) and iodine segments. However, this was not enough to counterbalance the decreases seen in the lithium and potash sectors.