Livent Will Benefit From Low-Cost Lithium Capacity Expansions as EV Adoption Increases
From a valuation standpoint, all three lithium producers we cover are trading at a discount to our fair value estimates. We view SQM and Albemarle as our top picks as they trade at price/fair value ratios of 0.61 and 0.67, respectively. Livent is still attractive but currently trades at a price/fair value ratio of 0.75. Regardless, all three narrow-moat stocks are trading in 4-star territory.Our bullish long-term outlook assumes that lithium prices will recover. Additionally, we assume that the...
Livent manufactures lithium. The company's primary products, namely battery-grade lithium hydroxide, butyllithium and high purity lithium metal are inputs used in various applications. The company produces lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in lithium-ion batteries. The company also supplies butyllithium, which is used as a synthesizer in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds including high purity lithium metal, which is used in the production of lightweight materials for aerospace applications and non-rechargeable batteries.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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