Wells Fargo analyst Michael Sison lowered the firm’s price target on Albemarle to $140 from $160 and keeps an Overweight rating on the shares. While the firm lowers its 2024 outlook, it also remains bullish on Albemarle as it sees strong volume growth for Energy Storage as still believes EV sales, particularly in China, will be up year-over-year in 2024 and recent weakness potentially reflects trough pricing.
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