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Fly News Breaks for March 5, 2019
SQM
Mar 5, 2019 | 06:11 EDT
Citi analyst Andrew McCarthy downgraded SQM to Neutral from Buy and lowered his price target for the shares to $41 from $53. The analyst continues to like the long-term lithium demand story but does not expect share price outperformance over the next 12 months. He sees heightened 2019 oversupply risks and expects material cuts in consensus earnings expectations in the near-term. As such, such, McCarthy prefers to wait until near-term fundamentals improve or a better entry point opens up.
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