TD Cowen analyst David Deckelbaum downgrades $Arcadium Lithium (ALTM.US)$ to a hold rating, and adjusts the target price from $6 to $5.85.
According to TipRanks data, the analyst has a success rate of 38.7% and a total average return of -5.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Arcadium Lithium (ALTM.US)$'s main analysts recently are as follows:
Arcadium Lithium's acquisition by a major industry player for $6.7B, or $5.85 per share in cash, may indicate that the lithium market is approaching a low point, according to an analyst.
Arcadium Lithium has been experiencing a prolonged ramp-up period for its various assets, which has been taking longer than anticipated. However, with the recent development of an all-cash acquisition by a major industry player, there could be potential improvements in efficiency and operations going forward.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
