BUZZ-Citigroup lowers PT on Albemarle

Reuters2025-04-15
BUZZ-Citigroup lowers PT on Albemarle

** Citigroup cuts price target on lithium miner Albemarle ALB.N to $64 from $85

** Still, the new price target represents a 11.5% upside to the stock's last close

** Brokerage sees tariffs disputes as a potential incremental headwind to global auto sales and is likely to keep lithium prices depressed in the near term

** "Energy Storage System $(ESS)$ battery demand is also at risk with 20% of Chinese ESS output exported to the U.S." - Citigroup

** Brokerage adds that it remains on the sidelines regarding ALB given few positive catalysts for lithium demand and continued balance sheet pressure

** 9 of 29 brokerages rate the stock "buy" or higher, 17 "hold" and 3 "sell"; median PT is $88 - data compiled by LSEG

** Up till last close, stock down 33.3% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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