Deutsche Bank lowered the firm’s price target on SQM to $48 from $52 and keeps a Hold rating on the shares. The company’s Q4 EBITDA missed expectations due to lower lithium pricing, though it was partially offset by much higher Lithium volumes, the analyst tells investors in a research note. The firm adds that its reduced price target is due to lower expectations into 2024 for lithium volumes forecasts, along with industrial chemicals, Specialty Plant Nutrition, and iodine volumes.
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