SQM price target raised to $62 from $55 at Loop Capital

Loop Capital analyst Chris Kapsch raised the firm’s price target on SQM to $62 from $55 but keeps a Hold rating on the shares. The company’s Q4 results demonstrate that the nascent lithium industry’s pricing cycle has come off its trough and is poised for a durable recovery, though there is still “not enough empirical evidence” to conclude that lithium fundamentals are definitively inflecting and fully-derisked, the analyst tells investors in a research note.