As previously reported, BofA upgraded Albemarle to Buy from Neutral with a price target of $156, up from $137. Inventory levels in China for lithium carbonate were elevated in February, but started to trend down in March and consistent with this trend, pricing for spodumene and the lithium salts have started to show some strength, says the analyst, who contends that lithium pricing has bottomed. BofA expects the global lithium market to tighten near-term, the analyst added.
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