Albemarle price target lowered to $225 from $290 at Berenberg

Berenberg lowered the firm’s price target on Albemarle to $225 from $290 and keeps a Hold rating on the shares. The guidance Albemarle set in January and confirmed in February was given under the assumption that lithium sales prices would be maintained at the level realized in Q4, but lithium has been in freefall since, the analyst tells investors in a research note. The firm now expects Albemarle to revise its 2023 guidance based on recent lithium price performance.