Citi analyst P.J. Juvekar downgraded SQM to Neutral from Buy with a price target of $92, down from $112. Following the stock’s 78% run this year in a tough market, the risk/reward ratio is not as favorable at an $80,000/t lithium spot price, Juvekar tells investors in a research note. SQM has most of its volumes on market-based pricing, which makes it more vulnerable to a spot price pullback, says the analyst.
Published first on TheFly
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