BofA downgraded SQM to Underperform from Neutral with a price target of $59, down from $69, as the firm lowered its 2023 and 2024 EBITDA estimates by 17% and 43%, respectively, following 20%-50% cuts in lithium price assumptions made by the BofA commodities team for 2023-2025. The firm’s 2023 and 2024 estimates are now 17% and 40% below Visible Alpha consensus, respectively, the analyst tells investors.
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Read More on SQM:
- SQM downgraded to Underperform from Neutral at BofA
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