Citi Maintains 'Buy' on Albemarle (ALB), Adds Stock to TEN+ List
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Citi maintains a 'Buy' rating on Albemarle Corp (NYSE: ALB), Adds ALB to the TEN+ 2008-09
Citi analyst says"Why Now - We project ALB will achieve annual EPS growth of 20% for the next two years based on: (1) Organic growth in Catalyst and Flame Retardants, which are stable oligopolies with tight supply/demand balances; (2) New 'green' technologies acquired through recent M&As; (3) Accelerated efforts to penetrate emerging BRIC & Middle East markets... While we have not built ALB's 'stretch' margin targets into our model and $51 price target, we believe there is potential upside. If ALB achieves its 'stretch' targets the stock could trade in the $55 range."
Albemarle Corporation (Albemarle) is a global developer, manufacturer and marketer of engineered specialty chemicals. [SM]
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