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Fly News Breaks for November 12, 2019
ALB
Nov 12, 2019 | 06:27 EDT
RBC Capital analyst Arun Viswanathan downgraded Albemarle to Sector Perform from Outperform with a price target of $71, down from $77. The analyst notes that with lithium prices falling below historical levels, global lithium suppliers may have to reduce output and wait for demand to catch up. Viswanathan adds that the near-term supply-demand imbalance, along with the general weakness in the auto industry, may keep Albemarle from achieving his previously forecast 40% or more EBITDA margins.
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