Albemarle (ALB) PT Raised to $65 at Jefferies

Jefferies analyst Laurence Alexander reiterated a Buy rating and boosted his price target on Albemarle (NYSE: ALB) to $65.00 (from $58.00).

Alexander commented, "Recent sharp moves in lithium spot prices have attracted attention, and contributed to a recent 21% rally in Albemarle shares since mid-December. We believe the jump in the highly-illiquid spot market is an incremental positive, insofar as it points in the right direction, but expectations for near-term EPS revisions should not be pegged to the spot market. Structural improvements in contract terms matter more, in our view, than 2016 price realizations."

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 $56.75 yesterday.

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