5 Best Battery Technology Stocks to Buy for Grid Storage

2. Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Short Percentage of Shares Outstanding: 0.56%

On June 2, JPMorgan downgraded Sociedad Química y Minera de Chile S.A. (NYSE:SQM) to Neutral from Overweight while raising its price target to $100 from $94. The firm cited limited upside potential for lithium prices from current spot levels, noting that inventories in China have begun to recover following a significant drawdown over recent months. As a result, JPMorgan believes the stock offers more limited near-term appreciation despite the higher valuation target.

On May 28, Scotiabank raised its price target on Sociedad Química y Minera de Chile S.A. (NYSE:SQM) to $105 from $100 while maintaining an Outperform rating on the shares. Following the company’s first-quarter results and updated guidance, the firm stated that SQM offers multiple avenues for value creation, reflecting confidence in its operating performance and long-term growth prospects.

Founded in 1968 and headquartered in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is a global specialty chemicals and mining company. It produces vital battery materials, such as lithium hydroxide and carbonate, used in utility-scale energy storage systems, making it a key driver in the grid storage sector.

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