EV Manufacturing & Demand Challenges May Weigh On Lithium Producers Albemarle & Livent's Growth Outlook: Analyst
Portfolio Pulse from Lekha Gupta
Piper Sandler analyst Charles Neivert downgraded Albemarle Corp (ALB) and Livent Corp (LTHM) to Neutral from Overweight, citing challenges in EV manufacturing and demand that may degrade lithium's supply-demand dynamics. The analyst also lowered ALB's price target to $155 from $255 and LTHM's to $19 from $33. He expects lithium prices to remain under pressure and weigh on earnings growth.
October 25, 2023 | 6:29 pm
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Albemarle Corp (ALB) was downgraded to Neutral from Overweight by Piper Sandler analyst Charles Neivert. The price target was also lowered to $155 from $255.
The downgrade and lowered price target by the analyst is based on the challenges in EV manufacturing and demand, which may degrade lithium's supply-demand dynamics. This is expected to put pressure on lithium prices and weigh on earnings growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Livent Corp (LTHM) was downgraded to Neutral from Overweight by Piper Sandler analyst Charles Neivert. The price target was also lowered to $19 from $33.
The downgrade and lowered price target by the analyst is based on the challenges in EV manufacturing and demand, which may degrade lithium's supply-demand dynamics. This is expected to put pressure on lithium prices and weigh on earnings growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100