RBC Capital keeps an Outperform rating and $260 price target on Albemarle after hosting investor meetings with its CEO Kent Masters and CFO Scott Tozier. While lithium prices have seen considerable weakness recently, the marginal cost of over $20K/ton for non-integrated and Chinese lepidolite players and current low 1-month inventories should support prices in the coming months, the analyst tells investors in a research note. The firm adds that it remains positive on Albemarle’s leading cost position and long-term growth.
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