Arcadium Lithium initiated with a Sector Perform at Scotiabank

Scotiabank initiated coverage of Arcadium Lithium (ALTM) with a Sector Perform rating and $6.25 price target following the completion of the merger between Livent and Allkem. The merger positions Arcadium as one of a handful of producers with exposure to brine, hard-rock, lithium carbonate and hydroxide, as well as a variety of specialties, but the firm is currently focused on stocks that will outperform their peers when spot lithium begins to improve and thinks Arcadium could slightly lag SQM (SQM) and Albemarle (ALB), the analyst tells investors.