Citi analyst Patrick Cunningham lowered the firm’s price target on Albemarle (ALB) to $64 from $85 and keeps a Neutral rating on the shares. The firm reduced lithium estimates and target multiples ahead of Q1 earnings. Citi sees tariffs disputes as a potential incremental headwind to global auto sales and says it is likely to keep prices depressed in the near term. Energy storage systems battery demand is also at risk with 20% of Chinese output exported to the U.S., the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALB:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue