Albemarle (ALB) PT Raised to 'Street High' $216 at Jefferies

January 20, 2021 8:16 AM EST
Get Alerts ALB Hot Sheet
Price: $216.49 +0.47%

Rating Summary:
    16 Buy, 14 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 8 | New: 46
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Jefferies analyst Jonathan Petersen raised the price target on Albemarle (NYSE: ALB) to a 'Street High' $216.00 (from $121.00) while maintaining a Buy rating.

The analyst commented, "ESG fund flows, favorable EV newsflow and improving lithium prices provide the backdrop for discounting low interest rates, a strong secular outlook (>15% CAGRthrough 2050 and >10% through 2070), a steeper cost curve and the prospect of tight supply/demand by 2024-2025 (earlier if there is an inventory build). We estimate ~$28bnof new capacity announcements are needed by 2030, which likely leads to incentive pricing in 2025-2030. "

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