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Fly News Breaks for February 21, 2019
ALB
Feb 21, 2019 | 14:54 EDT
Loop Capital analyst Chris Kapsch maintained a Buy rating on Albemarle Corporation and raised his price target to $119 from $112. The analyst said he liked "several aspects" of Albemarle's Q4 earnings, FY19 guidance, and the company's strategic narrative, which gave him increasing conviction in his Buy rating. Specifically, Kapsch mentioned that Albemarle "did not exhibit susceptibility to fading spodumene prices," and that the company "essentially endorsed" the Street's FY19 EBITDA expectations of ~$1.1B.
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