Albemarle downgraded at Evercore ISI, which sees little reason to believe a lithium price recovery is in store this year, and EBITDA is on pace to decline for the third consecutive year.

Evercore ISI analyst Stephen Richardson downgraded Albemarle Corporation (NYSE:ALB) stock from Outperform to In Line, setting a new price target of $88.00. The company, currently valued at approximately $9.

Evercore ISI downgraded Albemarle (ALB) to In Line from Outperform with a price target of $88, down from $170. With “little reason to believe”