Albemarle Stock Downgraded on "Weak Pricing"

TD Cowen slashed lithium stock Albemarle Corp's (NYSE:ALB) rating to "market perform" from "outperform" this morning. The firm also cut its price target all the way to $130 from $220, citing weak pricing. Separately, Albemarle announced it was laying off 4% of its workforce. ALB was last seen up 1.2% to trade at $121.26, but earlier slipped to $117.38. Familiar support at the $112 level, home to its recent Nov. 13 three-year lows, swooped in to catch the stock's latest pullback. Still, the equity remains do ...