Albemarle (ALB) PT Raised to $246 at RBC Capital

September 13, 2021 6:37 AM EDT
Get Alerts ALB Hot Sheet
Price: $228.77 -1.11%

Rating Summary:
    16 Buy, 15 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 13 | New: 72
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RBC Capital analyst Arun Viswanathan raised the price target on Albemarle (NYSE: ALB) to $246.00 (from $218.00) while maintaining a Sector Perform rating.

The analyst commented, "As EV production growth continues to accelerate, we believe ALB will continue to benefit given its unique low-cost position and global scale. Although we remain optimistic on the long-term lithium growth story, given that ALB trades approximately ~28x our FY'22 EBITDA, we believe the stock is fairly valued."

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