Albemarle price target lowered to $64 from $85 at Citi

Citi analyst Patrick Cunningham lowered the firm’s price target on Albemarle (ALB) to $64 from $85 and keeps a Neutral rating on the shares. The firm reduced lithium estimates and target multiples ahead of Q1 earnings. Citi sees tariffs disputes as a potential incremental headwind to global auto sales and says it is likely to keep prices depressed in the near term. Energy storage systems battery demand is also at risk with 20% of Chinese output exported to the U.S., the analyst tells investors in a research note.