UPDATE: JPMorgan Upgrades Albemarle (ALB) to Neutral

May 7, 2021 4:01 AM EDT
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Price: $231.25 -1%

Rating Summary:
    16 Buy, 14 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 8 | New: 9
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(Updated - May 7, 2021 5:02 AM EDT)

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."

For an analyst ratings summary and ratings history on Albemarle click here. For more ratings news on Albemarle click here.

Shares of Albemarle closed at $152.85 yesterday.

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