Scotiabank lowered the firm’s price target on Albemarle (ALB) to $75 from $85 and keeps a Sector Perform rating on the shares. The mid-term market balance for lithium suggests oversupply will continue, leading the firm to see no reason why prices should change meaningfully this year, the analyst tells investors. The firm does see, however, elevated risk of a capital raise mid-term.
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Read More on ALB:
- Albemarle price target lowered to $68 from $73 at Morgan Stanley
- Albemarle price target lowered to $85 from $105 at Deutsche Bank
- Albemarle price target lowered to $103 from $110 at BofA
- Albemarle price target lowered to $123 from $170 at Oppenheimer
- Albemarle price target lowered to $77 from $92 at Baird
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