Continued Strong Lithium Demand Highlights Our 4Q Earnings Takeaways; All Three Stocks Undervalued
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...
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