UPDATE: Argus Downgrades Livent Corp. (LTHM) to Hold
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(Updated - May 16, 2019 7:12 AM EDT)
(updated to add analyst comment and name)
Argus analyst Bill Selesky downgraded Livent Corp. (NYSE: LTHM) from Buy to Hold.
The analyst comments "On the 1Q19 conference call, management noted weaker demand and pricing for its high-performance lithium hydroxide, due primarily to uncertainty surrounding electric vehicle subsidies in China. It also does not expect to see any pricing recovery until late 2019 or early 2020. As such, we believe that a near-term HOLD rating is appropriate."
Shares of Livent Corp. closed at $7.79 yesterday.
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