SQM upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Marcio Farid upgraded SQM to Buy from Neutral with an unchanged price target of $46.50. While investors’ interest on the lithium market remains muted due to an expectation of a prolonged bear market, the firm now thinks the risk-reward is “skewed to the upside” and notes that its price target implies 30% upside from the current share price. SQM is well positioned for a lithium supply/demand improvement by 2027, the analyst tells investors.