Albemarle price target lowered to $308 from $344 at Oppenheimer

Oppenheimer lowered the firm’s price target on Albemarle to $308 from $344 and keeps an Outperform rating on the shares. With cathode makers operating with less than a week of inventory on hand, Oppenheimer believes upstream destocking suggests any uptick in demand could drive prices significantly higher, the analyst tells investors in a research note. The extreme volatility in lithium prices could be an ongoing overhang on Albermarle shares until market balance is trusted more readily, but Oppenheimer remains bullish on lithium demand.