SQM price target raised to $83 from $75 at Rothschild & Co Redburn

Rothschild & Co Redburn raised the firm’s price target on SQM (SQM) to $83 from $75 and keeps a Neutral rating on the shares. The firm’s updated lithium supply/demand analysis indicates that overproduction in the battery industry will reverse in 2027. Electric vehicle sales growth is slowing in 2026, with weakness in China and U.S., while battery sizes will “barely grow” in the medium term as affordable EVs with smaller packs outsell larger models, the analyst tells investors in a research note. Rothschild says that with demand decelerating and production ramping up, it sees the lithium market back in surplus in 2027. This means near-term downside for lithium prices, the firm contends.