Lithium's Path To Recharge: KeyBanc Analyst Sees Market Rebalancing For Potential Price Surge, Picks 2 Stocks To Watch
Portfolio Pulse from Shanthi Rexaline
KeyBanc Capital Markets analyst Aleksey Yefremov predicts a potential price surge in the lithium market as the year progresses, despite near-term uncertainties. Lithium production in China was flat in December, while lithium-ion battery cell production dropped 12%. Albemarle Corporation has reduced its 2024 expenditure forecast, and production curtailments in Australia and weaker production in China may lead to market rebalancing. Yefremov is positive on Albemarle and Arcadium Lithium plc, citing attractive valuations and improving near-term fundamentals. KeyBanc has Overweight ratings on both stocks with price targets of $291 for Albemarle and $13 for Arcadium Lithium.
January 23, 2024 | 1:07 pm
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POSITIVE IMPACT
Albemarle Corporation has reduced its 2024 expenditure forecast and is expected to benefit from a potential lithium market rebound. KeyBanc analyst Aleksey Yefremov has an Overweight rating on the stock with a price target of $291.
The reduced expenditure forecast by Albemarle and the expected market rebalancing could lead to improved profitability and investor sentiment, potentially driving the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Arcadium Lithium plc is seen as an attractive investment by KeyBanc analyst Aleksey Yefremov, with an Overweight rating and a price target of $13, anticipating a lithium market rebound.
Arcadium Lithium's valuation and the anticipated improvement in lithium market dynamics could lead to increased investor interest and a rise in the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80