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Fly News Breaks for March 29, 2019
ALB
Mar 29, 2019 | 08:50 EDT
RBC Capital analyst Arun Viswanathan lowered his price target on Albemarle to $100 after its below-consensus Q1 earnings pre-announcement driven by contract timing issues and wet weather. The analyst is keeping his Outperform rating on the shares however with an "optimistic" outlook for long-term lithium demand growth. Viswanathan contends that the Q1 headwinds should be "transitory" and expects the company to continue to "lead on costs and producing battery-grade lithium."
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