Jefferies Lifts Numbers On Albemarle (ALB)

Jefferies raised their price target and estiamtes on Albemarle (NYSE: ALB) after strong Q1 results.

The price target goes from $75 to $77. FY11 EPS goes from $4.00 to $4.55 and FY12 EPS goes from $4.80 to $5.30.

The firm states, "Despite pressure from raw materials, Q1 beat by $0.19 and illustrated the earnings leverage from price increases across bromine derivatives and mineral flame retardants. We are raising 2011E $0.55 to $4.55, 2012E $0.50 to $5.30, and our price target $2 to $77. We expect management to sketch aggressive 2015 targets at its May 3 analyst day."

For more ratings news on Albemarle click here and for the rating history of Albemarle click here.

Shares of Albemarle closed at $64.87 yesterday.

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