Baird Upgrades Albemarle (ALB) to Neutral

Baird analyst Ben Kallo upgraded Albemarle (NYSE: ALB) from Underperform to Neutral with a price target of $113.00 (from $81.00).

The analyst comments: "ALB has gained ~33% over the last month (vs the S&P 500 ~flat), which we believe is largely due to optimism regarding lithium end-market demand tied to energy storage. Lithium peers, as well as battery storage companies at various levels of the supply chain, have cited improving conditions as the demand
for storage solutions grows. We remain on the sidelines given uncertainty with competitive dynamics and a broad lack of visibility; however, we are pulling back our bearish stance and moving to Neutral."

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 $128.33 yesterday.

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