Livent price target lowered to $35 from $45 at Loop Capital

Loop Capital analyst Christopher Kapsch lowered the firm’s price target on Livent (LTHM) to $35 from $45 but keeps a Buy rating on the shares. The firm is adjusting its estimates after the company’s Q3 conference call and also with the benefit of hearing messaging from the lithium industry bellwether Albemarle (ALB) during their conference call late last week, the analyst tells investors in a research note. The new price target on Livent reflects reduced out-year earnings expectations around lower aggregate realized pricing and thus margin prospects, though the firm also continues to be drawn to the stock’s “enticing volume growth story” and “attractive” EBITDA margins, Loop Capital added.