Citi Reiterates 'Buy' Rating on Albemarle Corp (ALB)
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Citi reiterates a 'Buy' rating on Albemarle Corp (NYSE: ALB). Price target $47.
Citi analyst says, "We believe the consensus has generally factored in Albemarle's tremendous growth opportunity in refinery catalysts, but that the margin restoration in Fine Chemicals and Polymer Additives is underappreciated. Both have suffered in recent years from competitive pricing, high-cost production assets, and sluggish end market growth. This, in addition to the robust growth of refinery catalysts, Albemarle's diversified position in brominated and non-brominated flame retardants, and the solid financial profile of the company, adds to our positive stance."
Albemarle Corporation (Albemarle) is a global developer, manufacturer and marketer of engineered specialty chemicals. [SM]
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