HSBC analyst Santhosh Seshadri downgraded Allkem to Hold from Buy with a price target of A$17.30, down from A$18.50. The analyst says a “disconnect” between mining and refinery supplies is likely to result in a deficit for battery-grade materials. The firm reduced estimates for Allkem for 2023 and 2024 due to lower volumes.
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Published first on TheFly
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