Scotiabank upgrades Albemarle, Lithium Argentina on more bullish lithium view

As previously reported, Scotiabank upgraded Albemarle (ALB) to Outperform from Sector Perform with a $200 price target and upgraded Lithium Argentina (LAR) to Outperform from Sector Perform with a $7.75 price target, citing a more bullish view of lithium. The firm thinks lithium has undergone only the “first leg” in what it thinks should be a multi-year tightening cycle and has raised its price deck for the mineral, the analyst tells investors.