Loop Capital analyst Christopher Kapsch lowered the firm’s price target on Livent (LTHM) to $35 from $45 but keeps a Buy rating on the shares. The firm is adjusting its estimates after the company’s Q3 conference call and also with the benefit of hearing messaging from the lithium industry bellwether Albemarle (ALB) during their conference call late last week, the analyst tells investors in a research note. The new price target on Livent reflects reduced out-year earnings expectations around lower aggregate realized pricing and thus margin prospects, though the firm also continues to be drawn to the stock’s “enticing volume growth story” and “attractive” EBITDA margins, Loop Capital added.
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Read More on LTHM:
- Livent price target lowered to $20 from $24 at BMO Capital
- Livent price target lowered to $29 from $32 at KeyBanc
- 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
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