KeyBanc analyst Aleksey Yefremov downgraded Arcadium Lithium to Sector Weight from Overweight without a price target after the company entered into a definitive agreement with Rio Tinto to acquire it for $6.7B, or $5.85 per share in cash. The firm sees Rio’s move as a signal that lithium downturn is close to trough.
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Read More on ALTM:
- Arcadium Lithium price target raised to $5.85 from $4 at Scotiabank
- Arcadium Lithium price target raised to $5.85 from $4 at BMO Capital
- Arcadium Lithium price target raised to $5.85 from $4.30 at Mizuho
- Arcadium Lithium downgraded to Market Perform from Strong Buy at Raymond James
- Arcadium Lithium downgraded to Hold from Buy at HSBC
