Updates

** Truist Securities and J.P.Morgan lower PTs on lithium miner Albemarle ALB.N as lithium prices remain challenged

** Truist cuts PT to $85 from $96, a 7.3% upside to the stock's last close

** Says ALB is reducing costs and optimizing production, but given stagnant lithium prices and potential demand forecast reduction, its current valuation seems fair among its peers

** J.P.Morgan cuts PT to $80 from $100, about a 1% upside to the stock's last close

** Says company is unlikely to generate any meaningful free cash flow in 2025 and for as long as lithium prices remain near current levels

** The brokerage anticipates an increase in ALB's financial leverage as calculated by the company from its position at the end of 2024 to a higher level at the end of 2025

** Eight of 28 brokerages rate the stock "buy" or higher, 17 "hold" and three "sell"; their median PT is $90 - according to data compiled by LSEG

** Including the session's moves, the stock is down ~8% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))