UPDATE: JPMorgan Upgrades Albemarle (ALB) to Neutral
- S&P ends modestly lower as rising Treasury yields offset robust retail data
- Electronic Arts (EA) Rebounds on Reaffirmed Guidance Despite Battlefield 2042 Delay, Be Concerned But Not Worried Says Analyst
- U.S. retail sales surprise to upside in strong boost to economy
- Chat Platform Discord Raises $500 Million, Valuation More Than Doubled In Less Than a Year
- Dollar index climbs after U.S. retail sales show surprise rebound
JPMorgan analyst Jeffrey Zekauskas upgraded Albemarle (NYSE: ALB) from Underweight to Neutral with a price target of $152.00 (from $125.00).
The analyst comments "We raised our investment rating on Albemarle from Underweight to Neutral. The company is leaving a period of weaker earnings performance and should soon begin a period of greater positive earnings growth, as a base case. We think that Albemarle’s earnings should rise sharply as a base case in 2022 and 2023 as the company expands capacity in Chile and Australia. We estimate earnings of $4.20 in 2021 versus $4.11 in 2020. Our forecast for 2022 is $5.75 and our projection for 2023 is $7.55."
Shares of Albemarle closed at $152.85 yesterday.
You May Also Be Interested In
- Avis Budget (CAR) Gains on BofA Upgrade to Buy on Expected Upward Revisions to 2022+ Estimates
- Essity AB (ESSITYB:SS) (ESSYY) PT Lowered to SEK270 at Deutsche Bank
- Anglo American Plc. (AAL:LN) (NGLOY) PT Lowered to GBP36 at Deutsche Bank
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesJPMorgan, Earnings
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!