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Fly News Breaks for October 30, 2018
Oct 30, 2018 | 08:50 EDT
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.