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.