UPDATE: RBC Capital Upgrades Albemarle (ALB) to Sector Perform
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RBC Capital analyst Arun Viswanathan upgraded Albemarle (NYSE: ALB) from Underperform to Sector Perform with a price target of $168.00 (from $135.00).
The analyst comments "While our initial downgrade to Underperform in October 2020 [link] was based on our view that valuations were outpacing weakened lithium fundamentals, we now see the tide turning as lithium prices show firmer signs of recovery from the December lows and greater demand due to increased EV demand. We also believe the temporary one-year price concession is likely behind, given the tighter supply environment."
Shares of Albemarle closed at $154.60 yesterday.
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