Davenport Upgrades Albemarle Corp (ALB) to Buy; Raises 2010 Estimates
More News related to ALB
- Albemarle Corporation to Present at Citi's Basic Materials Symposium
- Davenport Upgrades Albemarle Corp (ALB) to Buy; Raises 2010 Estimates
- Albemarle and Saudi Basic Industries Corporation (SABIC) Affiliate, TAYF, Create Saudi Organometallic Chemicals Company (SOCC), a Strategic Catalysts Joint Venture
- After-Hours Movers 10/26: ENTR, UCTT, LULU, IVAC, TBAC Higher; ICGN, ZRAN, BIDU, WINN, LTD Lower
- Albemarle (ALB) Tops Q3 EPS by 2c
Davenport upgrades Albemarle Corp (NYSE: ALB) to Buy. Price target $42.
Davenport analyst says, "We believe the valuation on the stock is currently very attractive relative to historical norms, and think that the outlook is now sufficiently clear to justify a reasonable degree of confidence in our estimates and the future path of the economy...We are leaving our 4Q2009 EPS estimate unchanged at $0.55, which implies an estimate for FY2009 of $1.80 (up from $1.76, due to the outperformance in 3Q). For FY2010, we are increasing our estimate by $0.02 to $2.38, and we are establishing a FY2011 estimate of $2.85. On yesterday’s conference call, ALB CEO Mark Rohr expressed comfort with the current consensus for 4Q2009 and FY2010, which in both cases were within a penny of our new estimates."
To see more analyst ratings on ALB Click Here.
Albemarle Corporation engages in the development, manufacture, and marketing of engineered specialty chemicals.
Related Categories
UpgradesStocks Mentioned
+0.48Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
