TD Cowen analyst David Deckelbaum raised the firm’s price target on Albemarle (ALB) to $85 from $70 and keeps a Hold rating on the shares. The firm previewed Q3 results where they expect EBITDA margins to be down quarter-overquarter due to fewer volumes sold on long term contracts, though the company will get a small bump from spot carbonate prices that were up 12% quarter-over-quarter and spodumene prices that were up 17%.
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