Livent (LTHM) Received its Third Buy in a Row

After Loop Capital Markets and Evercore ISI gave Livent (NYSE: LTHM) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Pavel Molchanov reiterated a Buy rating on Livent today and set a price target of $24.00. The company’s shares closed last Tuesday at $17.25.

According to TipRanks.com, Molchanov is a 5-star analyst with an average return of 14.6% and a 59.6% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Maxeon Solar Technologies, Nextera Energy Partners, and Clean Energy Fuels.

Currently, the analyst consensus on Livent is a Moderate Buy with an average price target of $20.25, representing a 12.9% upside. In a report issued on April 19, Evercore ISI also upgraded the stock to Buy with a $22.00 price target.

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The company has a one-year high of $23.99 and a one-year low of $4.71. Currently, Livent has an average volume of 2.81M.

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Livent Corp. engages in the production of performance lithium compounds. It specializes in battery-grade lithium hydroxide, butyllithium, and purity lithium metal which are used in various performance applications. It operates through the following geographical segments: North America; Europe, Middle East, and Africa; Latin America; and Asia Pacific. The company is headquartered in Philadelphia, PA.