Mizuho analyst Christopher Parkinson lowered the firm’s price target on Albemarle to $224 from $328 and keeps a Neutral rating on the shares. The analyst’s "constructive views" of Albemarle’s strategy and market position are unchanged, but the firm adjusted estimates to account for "unprecedented" year-to-date spot price declines. There is a high probability Albemarle will need to adjust its 2023 guidance lower, despite the fact that there is a "delay" until lower pricing rolls through in the second half of 2023, the analyst tells investors in a research note.
Published first on TheFly
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