Scotiabank lowered the firm’s price target on Albemarle (ALB) to $65 from $75 and keeps a Sector Perform rating on the shares. While the company has navigated its balance sheet “exceptionally well,” it is difficult for the firm to get excited about the stock as several risks remain elevated, including balance sheet leverage, capital raise risk, and lower for longer pricing, the analyst tells investors. Additionally, the firm believes valuation year estimates need to come down materially.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALB:
- Albemarle price target lowered to $58 from $68 at Morgan Stanley
- Albemarle price target lowered to $107 from $123 at Oppenheimer
- Albemarle price target lowered to $95 from $102 at KeyBanc
- Albemarle’s Hold Rating: Impact of Sluggish Energy Storage Growth and Lithium Price Challenges
- Albemarle’s Strong Financial Position and Optimistic Lithium Demand Outlook Justify Buy Rating