Livent Upgraded To Market Perform From Underperform At BMO Capital

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 13 cents 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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