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FMC

FMC Corporation

$83.33

2.68 (3.32%)

, ALB

Albemarle

$107.09

0.9 (0.85%)

14:24
11/06/18
11/06
14:24
11/06/18
14:24

Livent CEO says hard to see decrease in lithium prices, Bloomberg reports

Paul Graves, the CEO of lithium firm Livent (LTHM), said in a phone interview with Bloomberg: "It's almost impossible for me to see a meaningful decrease" in lithium prices "Whenever you have less supply than expected, it will create more tightness." Other companies in the lithium industry include FMC Corp. (FMC), Albemarle (ALB), and Sociedad Quimica y Minera (SQM). Lithium is used in rechargeable batteries used in electric vehicles. Reference Link

FMC

FMC Corporation

$83.33

2.68 (3.32%)

ALB

Albemarle

$107.09

0.9 (0.85%)

SQM

SQM

$46.61

-0.13 (-0.28%)

LTHM

Livent

$17.21

0.28 (1.65%)

  • 06

    Nov

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    Dec

FMC FMC Corporation
$83.33

2.68 (3.32%)

11/05/18
FBCO
11/05/18
INITIATION
Target $103
FBCO
Outperform
FMC Corporation reinstated with an Outperform at Credit Suisse
Credit Suisse analyst Chris Parkinson reinstated coverage of FMC Corporation with an Outperform rating and $103 price target. The analyst cited best-in-class CPC growth, margin expansion and cap returns.
08/02/18
LOOP
08/02/18
NO CHANGE
Target $119
LOOP
Buy
FMC pullback is a 'buying opportunity', says Loop Capital
Loop Capital analyst Chris Kapsch says the pullback in FMC stock after its Q2 earnings represents a buying opportunity. The analyst notes that FMC's reaffirmation in its core Agriculture Solutions sales growth expectations of about 9% in 2018 is "quite impressive considering the global Crop Protection market's growth may reach just 1-3% this year". Kapsch lowers his FY18 EPS view to $6.05 from $6.10, but keeps his Buy rating and $119 price target on FMC.
10/30/18
BMOC
10/30/18
INITIATION
Target $18
BMOC
Market Perform
Livent initiated with a Market Perform at BMO Capital
BMO Capital analyst Joel Jackson initiated Livent (LTHM) with a Market Perform rating and a price target of $18. The analyst notes that while he likes the company's position of an "established, U.S.-listed, integrated, lithium pure play with a specialties/hydroxide focus", he sees neutral risk-reward on the stock based on its valuation trading at only a "slight discount" to the lithium business of Albemarle (ALB) and Sociedad Quimica (SQM). Jackson also points to the overhang of the FMC Corp (FMC) spin until the middle of Q1.
11/05/18
SBSH
11/05/18
INITIATION
Target $92
SBSH
Buy
FMC Corporation resumed with a Buy at Citi
Citi analyst Daniel Jester resumed coverage of FMC Corporation with a Buy rating and $92 price target following the initial public offering of the company's lithium business. By 2019 the analyst expects FMC to be a pure-play agriculture chemical company. Ag fundamentals, while choppy, continue to gradually improve, Jester tells investors in a research note.
ALB Albemarle
$107.09

0.9 (0.85%)

10/18/18
NOMU
10/18/18
NO CHANGE
Target $130
NOMU
Buy
Albemarle dispute with CORFO not a bid deal, says Nomura Instinet
Albemarle and the Chilean regulator CORFO reportedly have failed to reach an agreement regarding the terms of the contract that governs lithium production in the country, Nomura Instinet analyst Aleksey Yefremov tells investors in a research note titled "CORFO Dispute Unpleasant but Not a Big Deal." The analyst sees no immediate impact on Albemarle's earnings over the next three years, possibly, possibly longer, from the news. Further, Albemarle has multiple ways to limit any adverse effect if it loses arbitration over the contract, Yefremov tells investors in a research note. In the worst case, if the company does lose arbitration in the International Chamber of Commerce, it may have to provide some additional discount f or up to 25% of the lithium volume produced in Chile, the analyst adds. He keeps a Buy rating on Albemarle with a $130 price target.
10/19/18
LOOP
10/19/18
NO CHANGE
Target $130
LOOP
Buy
Downdraft in Albemarle stock creates buying opportunity, says Loop Capital
Loop Capital analyst Chris Kapsch kept his Buy rating and $130 price target on Albemarle (ALB), saying the recent downdraft on the investment case for the stock is yielding a buying opportunity. The analyst notes that sentiment may have been clouded further by concerns around pricing at which the company has to sell its Chilean-based lithium carbonate production to local cathode manufacturers and also the expansion challenges in Chile experienced by Albemarle and SQM (SQM). Kapsch states however that his conversations with the management as well as other industry contacts will prove that the incremental Chilean concerns are just "noise".
10/09/18
VERF
10/09/18
NO CHANGE
VERF
Sell
Albemarle shares weak on loss of Cesar Jil, says Vertical Group
Vertical Group analyst James Bardowski views Wealth Minerals' (WMLLF) hiring Cesar Jil as its Chief Technical Officer for Chile as a loss for Albemarle (ALB). Adding Jil's expertise will "significantly add to the probability" of Wealth Minerals' successfully bringing its own lithium project assets in the Atacama region of Chile into production, Bardowski tells investors in an emailed research note. The analyst, who believes shares of Albemarle are underperforming today due to the Jil's departure, points out that a core part of his Sell thesis on Albemarle is that "supply is coming." The stock in midday trading is down 3.5%, or $3.57, to $98.68.
SQM SQM
$46.61

-0.13 (-0.28%)

10/03/18
JEFF
10/03/18
INITIATION
Target $51
JEFF
Hold
SQM initiated with a Hold at Jefferies
Jefferies analyst Laurence Alexander started SQM with a Hold rating and $51 price target. The company's greater sensitivity to shorter-term movements in lithium prices will likely keep the shares range-bound well into next year, Alexander tells investors in a research note.
10/30/18
BMOC
10/30/18
UPGRADE
Target $55
BMOC
Outperform
SQM upgraded to Outperform at BMO Capital on 'best in class' lithium position
As reported earlier, BMO Capital analyst Joel Jackson upgraded SQM to Outperform and raised his price target to $55 from $50. The analyst calls the company a "best-in-class lithium operator with low-cost assets, the quickest ability to materially expand production, and lowest capital intensity", adding that while the potash prices could soften, he expects the iodine market to continue to improve. Jackson adds that the "attractive valuation" in SQM stock price masks the company's "Chilean water/royalty/quota issues, expansions delays, Ponce's complex involvement, and the NTR/Tianqi overhang".
LTHM Livent
$17.21

0.28 (1.65%)

11/05/18
BOFA
11/05/18
INITIATION
Target $20
BOFA
Buy
Livent initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Steve Byrne initiated Livent with a Buy and $20 price target saying it is a pure-play lithium producer. Byrne said there is a "long run-way" for volume growth in lithium and expects oversupply concerns over the past year to be negated by supply addition delays and sustainable near-term prices.
11/05/18
SBSH
11/05/18
INITIATION
Target $20
SBSH
Buy
Livent initiated with a Buy at Citi
Citi analyst P.J. Juvekar started Livent with a Buy rating and $20 price target. The analyst recommends gaining exposure to increasing electric vehicle adoption and the corresponding growth in lithium hydroxide. Livent already holds ~26% of the market and will gradually expand its hydroxide capacity over the next decade, Juvekar tells investors in a research note.
11/05/18
FBCO
11/05/18
INITIATION
Target $20
FBCO
Outperform
Livent initiated with an Outperform at Credit Suisse
Credit Suisse analyst Christopher Parkinson started Livent with an Outperform rating and $20 price target. The analyst believes its position in the lithium market should remain advantageous through 2025, given its industry leading tech expertise and established relationships with battery manufacturers and OEMs, its leading share in lithium hydroxide with plans to almost triple capacity, and its low-cost asset base.
11/05/18
11/05/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Immunomedics (IMMU) initiated with an Overweight at Morgan Stanley. 2. Livent (LTHM) initiated with an Outperform at Credit Suisse and a Buy at Citi, Credit Suisse, BofA/Merrill, Goldman Sachs, and Nomura Instinet. 3. Allogene Therapeutics (ALLO) was initiated with an Outperform at Cowen, a Buy at Jefferies and Goldman Sach, as well as a Buy at Jefferies. 4. Linde plc (LIN) initiated with an Underperform at Bernstein and an Equal Weight at Barclays. 5. EnLink Midstream (ENLC) initiated with a Hold at Tudor Pickering. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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