Albemarle (ALB) is managing through the downturn in lithium spot prices "as well as can be expected," Oppenheimer said in a note Thursday.
The firm cited Albemarle's cost saving measures and cash management, and noted the limited impact of proposed US tariffs on the company.
Oppenheimer said it is reducing its 2025 and 2026 estimates for earnings per share and earnings before interest, taxes, depreciation and amortization as spot lithium prices continue to fall given the company's spot exposure at about 50% for the year.
"We believe spot prices remain too low to support incremental lithium volume growth," the firm said. "Given global EV and stationary storage growth, we continue to anticipate a recovery in pricing and remain constructive on shares."
Oppenheimer cut its price target on Albemarle to $107 from $123 and maintained its outperform rating.
The company's shares rose over 2% in recent Friday trading.
Price: 60.54, Change: +1.22, Percent Change: +2.05
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