RBC Capital analyst Arun Viswanathan lowered his price target on Albemarle to $133 to reflect the recent stock price decline that discounted investor concerns over lithium oversupply. Longer term, the analyst keeps his Buy rating, stating that the company's lithium business alone is worth over $100 per share, while the industry demand target of over 800K MT by 2025 at electric vehicle penetration rate of 12% suggests an 18% annualized rise. Despite the free cash flow pressure from lithium capacity ramp in the near term, the analyst believes in the company's confidence in the demand cycle.