Morgan Stanley Cuts Albemarle To Sell With Concerns On Both Supply And Demand

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As previously reported, Morgan Stanley analyst Vincent Andrews downgraded Albemarle (ALB) to Underweight, the firm’s sell-equivalent rating, from Equal Weight citing his concerns on both the lithium supply and demand side.

On the lithium demand side, bulls’ electric vehicle penetration rate forecasts seem “aggressive, said Andrews. He also now has material concerns on the supply side following the recent Chilean government agreement with SQM (SQM), added Andrews, who lowered his price target on Albermarle to $85 from $100.

Morgan Stanley analyst Javier Martinez de Olcoz Cerdan also downgraded SQM to Underweight this morning.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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