Raymond James lowered the firm’s price target on Arcadium Lithium to $5 from $7 and keeps a Strong Buy rating on the shares. While spot pricing is nowhere near its Covid-era highs, the company’s capacity expansion is driving profitability, and the firm is also watching the trajectory of post-merger cost synergies, the analyst tells investors in a research note. The firm notes that Arcadium’s margins are “volatile” as it is a commodity-sensitive business.
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