Despite getting sold off this year, Jefferies sees SQM as an attractively valued play in the commodities space. Analyst Alejandro Demichelis upgraded U.S. shares of the Latin American lithium producer to buy from hold. Demichelis said the market underappreciates SQM's low-cash cost advantage in the lithium space. "But we believe that they should put the company on a much stronger competitive footing over the coming years." SQM shares advanced more than 6% during Monday morning trading.

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Persons: Jefferies, SQM, Alejandro Demichelis, Demichelis, Albemarle Locations: American, SQM, SQM ALB