Is Sociedad Quimica y Minera de Chile the Best Lithium Stock to Buy? 1 Analyst Thinks So

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...

With shares that have doubled over the past year, Chilean lithium miner Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM) is one of the hottest stocks on the market today. But with a forward price-to-earnings ratio of 30, it's arguably also one of the most expensive lithium stocks you could own. And yet, according to one brave Wall Street analyst, Sociedad Quimica y Minera -- usually abbreviated SQM for short -- just might be the best lithium stock to own.

Here are three things you need to know about that.

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Source: Fool.com