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Fly News Breaks for February 21, 2020
LTHM, ALB
Feb 21, 2020 | 08:59 EDT
SunTrust analyst James Sheehan raised his price target on Albemarle (ALB) to $90 after its in-line Q4 results, with the subsequent rise in its stock price reflecting investor optimism about the long-term prospects for electric vehicle growth as well as hopes that pricing concessions will not be repeated in 2021. The analyst still keeps his Hold rating on the stock however given its 6-month lithium inventory and the implied valuation of its Lithium business at 23-times expected 2020 EBITDA, which is well above that of its peer Livent (LTHM).
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