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Fly News Breaks for August 12, 2019
LTHM
Aug 12, 2019 | 06:27 EDT
BofA/Merrill analyst Steve Byrne downgraded Livent to Underperform from Neutral and lowered his price target for the shares to $7 from $10. The stock has rallied 34% over the past three trading days despite reporting an inline Q2, Byrne tells investors in a research note. The analyst, however, believes the lithium hydroxide market for electric vehicles may not have enough growth to absorb the new capacity coming over the next 6-12 months. He sees increased risk that Livent's lithium hydroxide production will continue at "challenged economics."
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