TD Cowen lowered the firm’s price target on Albemarle (ALB) to $65 from $115 and keeps a Hold rating on the shares. The firm said its quarter showed positive margin mix for lithium while cost reductions along with a previously announced $350mm customer prepayment resulted in positive free cash flow for the first time since 3Q23 and the company is aiming to be free cash flow neutral in FY25.
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