Loop Capital analyst Chris Kapsch lowers his price target on Albemarle to $130 to reflect the recent stock price decline, but notes that the perception of excess lithium supply in the world is flawed. Instead, Kapsch continues to believe that there is a "profound secular lithium demand growth" while also forecasting prices to increase again in FY18. The analyst keeps his Buy rating on Albemarle, stating that the electric vehicle adoption phase is in its earliest stages, while the timelines from optimistic production ramps from lithium projects in the works are "likely to slip".