KeyBanc lowered the firm’s price target on Albemarle (ALB) to $95 from $102 and keeps an Overweight rating on the shares. Although the lithium market remains challenged, Albemarle is beginning to find its stride, the firm says. Notably, lower costs as well as stronger contract mix were the key drivers of stronger earnings at this stage. Mining costs should keep declining in the second half of 2025 and 2026 as capacity keeps ramping at Greenbushes and La Negra and Albemarle works through higher cost parts of Wodgina, KeyBanc notes.
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