JPMorgan lowered the firm’s price target on Livent to $15 from $25 and keeps a Neutral rating on the shares. The decreasing lithium prices are yet to be reflected in Albemarle’s and Livent’s earnings, the analyst tells investors in a research note. The firm says lithium inventories can be held by battery producers, automakers, cathode producers, lithium converters, and the lithium producers themselves. “Plainly, there is too much supply,” says JPMorgan.
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