BUZZ-Truist Securities cuts PT on Albemarle

Truist Securities lowers PT on lithium miner Albemarle ALB.N to $85 from $96

New PT represents a 7.3% upside to the stock's last close

Brokerage says prospect of breakeven free cash flow in 2025 was an incremental positive that it believes will limit the likelihood of a near-term capital raise

Adds that as ALB is reducing costs and optimizing production, but given stagnant lithium prices and potential demand forecast reduction, its current valuation seems fair among its peers

8 of 28 brokerages rate the stock "buy" or higher, 17 "hold" and 3 "sell"; their median PT is $90 - data compiled by LSEG

As of last close, stock down ~8% YTD