KeyBanc analyst Aleksey Yefremov lowered the firm’s price target on Livent to $29 from $32 and keeps an Overweight rating on the shares. The firm notes Livent’s quarter showed a modestly more pronounced decline from lower lithium prices than it expected, with Q4 guidance lower due to a delay in the Argentina expansion. While 1-2 quarter delays are typical, KeyBanc trims its 2023 and 2024 numbers to reflect a bit less volume and a lower price deck.
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Read More on LTHM:
- Livent Releases Third Quarter 2023 Results
- Livent lowers FY23 revenue view to $890M-$940M from $1.025B-$1.125B
- Livent reports Q3 adjusted EPS 44c, consensus 46c
- Livent options imply 6.1% move in share price post-earnings
- LTHM Upcoming Earnings Report: What to Expect?
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