Albemarle price target lowered to $58 from $68 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Albemarle (ALB) to $58 from $68 and keeps an Underweight rating on the shares. Reducing its lithium price forecast in line with the firm’s commodities team’s latest forecast leads to a 25% reduction to the 2026 EBITDA forecast, the analyst tells investors. The firm’s base case valuation range is now $45-$70 and it sees “a tilt to the low end of the range” given the higher end requires lithium prices to increase to about $13,000 mt LCE by year-end 2026, while the low end assumes only modest improvement, the analyst added.