SunTrust analyst James Sheehan kept his Buy rating and $115 price target on Albemarle, saying that the meetings he held with its management this week "reinforced" his bullish conviction on lithium supply/demand and the outlook for contract pricing in the near and medium term. The analyst notes that longer-term contracts requested by buyers "favor price stability" with a floor at current prices. Sheehan also maintains that the stock's current valuation multiple of 10-times his expected FY19 EBITDA is not giving the company "proper credit for the sustainability of its top line growth and robust lithium EBITDA margins".