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Fly News Breaks for February 21, 2020
LTHM
Feb 21, 2020 | 05:22 EDT
BMO Capital analyst Joel Jackson downgraded Livent to Underperform from Market Perform with an unchanged price target of $7.50. The company's Q4 results included a sharp drop to 2020 EBITDA expectations, Jackson tells investors in a research note. The analyst says that while electric vehicle sentiment is picking up, and spot lithium prices seem to have stabilized following a 50% rebound in Livent's share price in recent months, he's concerned given the current valuation and the "various challenges: confronting the company, including customers delaying hydroxide orders, low margin sales and expansion "hiccups."
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