Oppenheimer lowered the firm’s price target on Albemarle (ALB) to $123 from $170 and keeps an Outperform rating on the shares. As the firm adjusts Albemarle estimates for increased spot market risk, Oppenheimer believes management has been effective in building resilience into the business. The firm is encouraged by the prospect of Albemarle being free cash flow positive in 2025 despite a higher percentage of spot sales and continued anemic spot prices.
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