Albemarle price target lowered to $75 from $85 at Scotiabank

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.