JPMorgan lowered the firm’s price target on SQM to $75 from $93 and keeps an Overweight rating on the shares. With JPMorgan getting more cautious on lithium prices, the analyst materially reduced SQM’s fiscal 2024 EBITDA forecast by 50% to $2.94B, which is now 30% below consensus. The firm’s new price target takes into account increasing risk free rates.
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