RBC Capital raised the firm’s price target on Albemarle (ALB) to $133 from $108 and keeps an Outperform rating on the shares. The company had a decent Q3 with double-digit growth in Energy Storage, Specialties earnings inflecting positive y/y, and the management maintaining its outlook for the $12k-15k/ton lithium case despite weaker pricing given significant cost improvement, the analyst tells investors in a research note.
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Read More on ALB:
- Albemarle price target lowered to $127 from $132 at KeyBanc
- Early notable gainers among liquid option names on November 11th
- Albemarle Corporation’s Strategic Shift Amid Q3 Losses
- Albemarle to reduce global workforce by 6%-7%
- Albemarle reports Q3 adjusted EPS ($1.55), consensus (44c)
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