Albemarle price target lowered to $240 from $325 at Deutsche Bank

Deutsche Bank analyst David Begleiter lowered the firm’s price target on Albemarle to $240 from $325 and keeps a Buy rating on the shares. A bottom in lithium prices could be seen in late Q2, setting up a more positive backdrop for the second half of 2023, the analyst tells investors in a research note. The firm’s assumptions for battery grade lithium carbonate are down 10% for 2023 and 2024.