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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on LTHM:
- Livent Announces Special Meeting Date to Vote on Pending Merger of Equals with Allkem; Form S-4 Registration Statement Declared Effective
- Allkem and Livent Receive All Required Regulatory Approvals Globally to Close Merger of Equals
- Livent, Allkem receive all regulatory approvals for merger
- Largest borrow rate increases among liquid names
- Livent price target lowered to $35 from $45 at Loop Capital