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ALB

Albemarle

$67.55

0.74 (1.11%)

, LTHM

Livent

$7.10

0.01 (0.14%)

10:01
10/23/19
10/23
10:01
10/23/19
10:01

Buy Albemarle and Livent on 'compelling' contrarian call, says Goldman Sachs

The combination of sharp spot lithium price declines and elevated investor skepticism makes the setup for a contrarian call on shares of Albemarle (ALB) and Livent (LTHM) "compelling," Goldman Sachs analyst Robert Koort tells investors in a research note. The current negative sentiment and spot price plunge have run counter to Albemarle's fundamentals, where consensus estimates have remained relatively flat, adds the analyst. Koort believes lithium prices are approaching a bottom given limited cash margins for the marginal producers. This indicates investors "should dust off their lithium files and consider preparing for an upturn," contends the analyst. Despite lowering his price target for Albemarle to $85 from $96 and for Livent to $8.50 from $9.00, Koort sees "compelling value" in both Buy-rated names.

ALB

Albemarle

$67.55

0.74 (1.11%)

LTHM

Livent

$7.10

0.01 (0.14%)

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ALB Albemarle
$67.55

0.74 (1.11%)

09/12/19
GABE
09/12/19
INITIATION
GABE
Buy
Albemarle initiated with a Buy at Gabelli
Gabelli analyst Joseph Catania started Albemarle with a Buy rating and 2020 private market value estimate of $109 per share. The company's Bromine and Catalysts businesses, by generating significant free cash, allow it fund the substantial capital expansion required to drive the growth of the lithium business, Catania tells investors in a research note. He believes Albemarle will turn free cash flow positive in 2021 and views the stock's current valuation as "compelling."
09/13/19
LOOP
09/13/19
NO CHANGE
Target $98
LOOP
Buy
Albemarle price target lowered to $98 from $100 at Loop Capital
Loop Capital analyst Chris Kapsch lowered his price target on Albemarle to $98 and also reduced his FY19 and FY20 EPS views by 7c and 65c to $6.38 and $6.25 respectively. The analyst notes that his broader lithium research report suggests that the company will not escape unscathed from the continued decline in spot lithium prices despite the pricing floors contained in its long-term supply agreements. Kapsch still keeps his Buy rating on Albemarle however, saying that he anticipates "meaningfully higher" production volume growth in 2021.
10/15/19
WELS
10/15/19
INITIATION
Target $75
WELS
Market Perform
Albemarle initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Michael Sison initiated coverage of Albemarle with a Market Perform rating and $75 price target.
10/15/19
WELS
10/15/19
INITIATION
Target $75
WELS
Market Perform
Albemarle initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Michael Sison initiated coverage of Albemarle with a Market Perform rating and $75 price target. The analyst sees the company's growth slowing in 2020 due to limits on lithium capacity expansion and dilution from the MRL transaction. Investors will likely need a "distinct catalyst" to drive multiple expansion given the oversupply dynamic in the lithium industry, says Sison.
LTHM Livent
$7.10

0.01 (0.14%)

05/16/19
ARGS
05/16/19
DOWNGRADE
ARGS
Hold
Livent downgraded to Hold from Buy at Argus
05/16/19
ARGS
05/16/19
DOWNGRADE
ARGS
Hold
Livent downgraded to Hold from Buy at Argus
Argus analyst Bill Selesky downgraded Livent to Hold after its Q1 earnings last week, saying the management has forecasted weaker demand and pricing for its high-performance lithium hydroxide amid rising uncertainty around electric vehicle subsidies in China. The analyst further cites the company's forecast of no pricing recovery until late 2019 or early 2020 and its guidance cut, also lowering his FY19 EPS view to 61c from $1.09. Selesky maintains his forecast of FY20 EPS at $1.20 given his expectations for a rebound in lithium pricing.
05/22/19
LOOP
05/22/19
NO CHANGE
Target $12
LOOP
Buy
Livent has 'greater value' despite adverse 2019 dynamics, says Loop Capital
Loop Capital analyst Chris Kapsch kept his Buy rating and $12 price target on Livent after meeting with its management this week, saying that while the company's recent "reset" of 2019 EBITDA expectations was "disappointing", he sees the stock remaining supported by the lithium industry's longer-term growth story remaining intact. The analyst expects Livent to become a "more meaningful beneficiary" of the industry's "attractive and sustainable" annualized revenue growth rate of over 20% and, based on the management commentary, believes that an inflection in lithium fundamentals is coming next year.
08/12/19
BOFA
08/12/19
DOWNGRADE
Target $7
BOFA
Underperform
Livent downgraded to Underperform from Neutral at BofA/Merrill
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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AES

AES Corp.

$18.50

-0.115 (-0.62%)

19:08
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WM

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$86.78

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19:07
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Initiation
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CLH

Clean Harbors

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AES

AES Corp.

$18.50

-0.115 (-0.62%)

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  • 04

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ICE

IntercontinentalExchange

$93.89

-0.58 (-0.61%)

, BTC

Bitcoin

$0.00

(0.00%)

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Bitcoin

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BITCOIN

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MAN

ManpowerGroup

$92.05

-0.355 (-0.38%)

18:51
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Initiation
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RHI

Robert Half

$58.01

-0.38 (-0.65%)

18:48
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Robert Half initiated at Jefferies »

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HTZ

Hertz

$15.37

0.265 (1.76%)

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CAR

Avis Budget

$28.71

0.16 (0.56%)

18:44
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AMD

AMD

$39.52

-1.45 (-3.54%)

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CTAS

Cintas

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Initiation
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HRB

H&R Block

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BrightView

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PINE

Alpine Income Properties

$0.00

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  • 22

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OTTW

Ottawa Bancorp

$13.39

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MSFT

Microsoft

$149.46

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  • 02

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SITC

Site Centers

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UAL

United Airlines

$90.96

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  • 03

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FAST

Fastenal

$35.15

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, GWW

Grainger

$312.66

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Initiation
Fastenal, Grainger, HD Supply, MSC Industrial, Wesco initiated at Jefferies »

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GWW

Grainger

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HDS

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MSM

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  • 10

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SPGI

S&P Global

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SPGI

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FDS

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EFX

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CSGP

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GPS

Gap

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  • 21

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LB

L Brands

$17.18

1.78 (11.56%)

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WCC

Wesco

$53.09

-0.02 (-0.04%)

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MAN

ManpowerGroup

$92.05

-0.355 (-0.38%)

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