BMO Capital analyst Joel Jackson upgraded Livent (LTHM) to Market Perform from Underperform with a price target of $5.50, down from $7.50. The stock closed Friday up 13c to $4.73. The analyst cites valuation for the upgrade following Livent’s share price correction and relative underperformance versus Albemarle (ALB) and SQM (SQM) since mid-February. Jackson, who reduced the company’s estimates to reflect macro issues and “still-weakening” hydroxide prices, still models a two-year delay to lithium expansions, however.
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