Livent price target lowered to $33.50 from $37 at HSBC

HSBC analyst Santhosh Seshadri lowered the firm’s price target on Livent to $33.50 from $37 and keeps a Buy rating on the shares. The analyst says a “disconnect” between mining and refinery supplies is likely to result in a deficit for battery-grade materials. The firm reduced estimates for lithium names citing “weak” realization and raised cost of capital estimates, pushing down target prices.