Albemarle price target lowered to $90 from $155 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Albemarle to $90 from $155 and keeps an Underweight rating on the shares. The firm sees more downside risk to shares in the near to medium term, both because of a likely continued reduction in lithium prices, but also because of a likely continued derating of lithium assets towards other mined commodities, the analyst tells investors. The firm believes a sentiment inflection point has been reached as a function of the demand side of the lithium equation now being called into question, the analyst added.