Livent Stock Downgraded: What You Need to Know
Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
Lithium miner Livent (NYSE: LTHM) beat earnings by a bit last week, sending its shares soaring 34%. Now that the initial enthusiasm has worn off, however, Wall Street is taking a closer look at what Livent reported -- and what it said about guidance -- and at least one analyst doesn't much like what it sees.
In fact, investment banker Merrill Lynch dislikes Livent so much that this morning, it downgraded Livent stock to underperform (the equivalent of a sell rating) and cut its price target from $10 a share to just $7.
Source Fool.com
