JPMorgan analyst Lucas Ferreira lowered the firm’s price target on SQM to $93 from $97 and keeps an Overweight rating on the shares. The analyst expects Q2 to be the weakest quarter of the year for SQM. Results should reflect a concentration of lithium sales at the bottom of the market so far in 2023, which won’t be compensated by an expected rebound in volumes, the analyst tells investors in a research note. The firm expects profit taking in the shares.
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