SQM - Alebemarle SQM upped at Deutsche Bank on tighter lithium market

Albemarle ([[ALB]] -1.2%) and SQM ([[SQM]] +1.8%) are upgraded to Buy from Hold at Deutsche Bank, which sees the lithium market in a deficit from late 2021 out towards 2024 and a 40% penetration rate for electric vehicles in key markets expected by 2030.Deutsche Bank's Chris Terry thinks Albemarle is well positioned to capitalize on the firm's forecast 27% compound growth in lithium demand through 2025, backed by two new world-scale lithium projects starting up in 2021 and "the largest, most diverse lithium resources base in the world that provides more 'shots on goal' than any other lithium company."The firm raises its Albemarle stock price target to $190 from $175 and SQM to a Street-high $70 from $30.Both Albemarle and SQM were upgraded to Buy last week at Citigroup, citing a more bullish view due to stronger electric vehicle momentum.

For further details see:

Alebemarle, SQM upped at Deutsche Bank on tighter lithium market