SQM price target raised to $80 from $72 at Scotiabank

Scotiabank analyst Ben Isaacson last week raised the firm’s price target on SQM to $80 from $72 and kept an Outperform rating on the shares. SQM reached a deal with Codelco, which essentially sees it giving up half of its lithium business between 2025 and 2023 in order to continue operating through 2060, the analyst told investors in a research note. The firm says the essential elements of the deal are better for SQM than it thought.