Albemarle, Lithium Argentina hit new 52-week highs as Scotiabank upgrades
Albemarle (ALB) and Lithium Argentina (LAR) reached new 52-week highs after Scotiabank upgraded both companies to Sector Outperform. Albemarle rose 4.2% and Lithium Argentina increased by 7.1%. Scotiabank forecasts a supply-constrained lithium market, with demand expected to reach 2.8M metric tons by 2030. The analyst noted improvements in Albemarle's balance sheet and projected positive free cash flow by 2025. Lithium Argentina's operations are also performing well, with reduced cash costs and improved liquidity. Lithium Americas (LAC) was maintained at Sector Perform due to its lack of current production.
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