UBS analyst Joshua Spector lowered the firm’s price target on Albemarle (ALB) to $253 from $280 and reinstated a Buy rating on the shares. UBS sees the current inflection in China lithium pricing leading to a positive shift in sentiment for the stock. Longer term, there is structural support for lithium prices in the low-20s $/kg range, the analyst tells investors in a research note, adding that walking away from the Liontown (LINRF) bid gives Albermarle more financial flexibility.
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