KeyBanc analyst Aleksey Yefremov lowered the firm’s price target on Albemarle (ALB) to $127 from $132 and keeps an Overweight rating on the shares. The firm is encouraged by Albemarle’s strong actions to reduce capex and $300M-$400M in fixed costs. The lithium market remains at trough conditions. KeyBanc still finds current Li prices to be unsustainable from the cost-curve and reinvestment economics perspectives. Reflecting this tough environment, the firm lowers its 2025 price assumptions to mirror current second half of 2024 prices.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ALB:
- Early notable gainers among liquid option names on November 11th
- Albemarle Corporation’s Strategic Shift Amid Q3 Losses
- Albemarle to reduce global workforce by 6%-7%
- Albemarle reports Q3 adjusted EPS ($1.55), consensus (44c)
- Albemarle sees FY25 CapEx $800M-$900M
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
