Citigroup lowers PT on Albemarle

Citigroup cuts price target on lithium miner Albemarle ALB.N to $64 from $85

Still, the new price target represents a 11.5% upside to the stock's last close

Brokerage sees tariffs disputes as a potential incremental headwind to global auto sales and is likely to keep lithium prices depressed in the near term

"Energy Storage System (ESS) battery demand is also at risk with 20% of Chinese ESS output exported to the U.S." - Citigroup

Brokerage adds that it remains on the sidelines regarding ALB given few positive catalysts for lithium demand and continued balance sheet pressure

9 of 29 brokerages rate the stock "buy" or higher, 17 "hold" and 3 "sell"; median PT is $88 - data compiled by LSEG

Up till last close, stock down 33.3% YTD