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Fly News Breaks for September 13, 2019
ALB
Sep 13, 2019 | 09:28 EDT
Loop Capital analyst Chris Kapsch lowered his price target on Albemarle to $98 and also reduced his FY19 and FY20 EPS views by 7c and 65c to $6.38 and $6.25 respectively. The analyst notes that his broader lithium research report suggests that the company will not escape unscathed from the continued decline in spot lithium prices despite the pricing floors contained in its long-term supply agreements. Kapsch still keeps his Buy rating on Albemarle however, saying that he anticipates "meaningfully higher" production volume growth in 2021.
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