Jefferies Raises Price Target on Albemarle (ALB) to $77

December 3, 2012 9:19 AM EST
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Price: $53.34 +0.43%

Rating Summary:
    12 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 24 | New: 12
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Jefferies reiterated a Buy rating on chemical’s company Albemarle (NYSE: ALB) and raised its price target to $77.00 (from $67.00).

"By mid-2013E, improvements in electronics and construction, coupled with modest gains in automotive, should drive a reassessment of Albemarle shares, which currently trade at a 10% discount to the company's average valuation in 2010-2011," said analyst Laurence Alexander.

For an analyst ratings summary and ratings history on Albemarle click here. For more ratings news on Albemarle click here.

Shares of Albemarle closed at $59.79 yesterday.

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