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ALB

Albemarle

$143.37

2.75 (1.96%)

09:05
11/14/17
11/14
09:05
11/14/17
09:05

Deutsche sees lithium pricing pressure coming, cuts Albemarle to Hold

Deutsche Bank analyst David Begleiter downgraded Albemarle to Hold from Buy while raising his price target for the shares to $150 from $130. The developer of highly-engineered specialty chemicals closed yesterday up 3c to $143.37. Following a field trip to China, Begleiter believes new lithium processing capacity is coming, which should begin to pressure prices by 2019. The analyst views Albemarle's valuation as full at current levels. To justify greater than 10% upside from current levels, one would have to pay 23 times 2020 estimated lithium EBITDA, Begleiter tells investors in a research note. He sees the stock as performing in-line over the next 6-12 months after tripling over the past 21 months.

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ALB Albemarle
$143.37

2.75 (1.96%)

10/25/17
10/25/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Apple (AAPL) initiated with a Buy at HSBC. 2. Albemarle (ALB) initiated with an Outperform at BMO Capital. 3. Norwegian Cruise Line (NCLH) initiated with a Buy at Argus. 4. Uranium Energy (UEC) initiated with a Buy at Roth Capital. 5. Aldeyra (ALDX) initiated with an Overweight at Cantor Fitzgerald. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/02/17
WELS
11/02/17
NO CHANGE
WELS
FMC overreaction to DowDuPont comments a buying opportunity, says Wells Fargo
Wells Fargo analyst Frank Mitsch notes that FMC Corporation (FMC) shares are down over 2.5%, which he believes is due to an overreaction to comments from DowDuPont (DWDP) that CPC inventory levels were still elevated in Latin America. However, this is "NOT new news," said Mitsch, who adds that FMC has right sized its pipeline so it should not be facing the same situation. The analyst also notes that Albemarle (ALB) is down 4%, pointing out that that the House's proposed tax plan will lower or eliminate EV subsidies, which may have a longer term impact on the lithium business. However, the runway for the next 15+ months for FMC's lithium business looks promising, said Mitsch, who would take advantage of today's selloff to buy FMC shares.
11/10/17
NOMU
11/10/17
NO CHANGE
Target $159
NOMU
Buy
Albemarle price target raised to $159 from $154 at Nomura Instinet
Nomura Instinet analyst Aleksey Yefremov raised his price target for Albemarle to $159 saying management's 2018 lithium guidance exceeded both his and consensus expectations, likely fueling "significant" EBITDA growth in 2018. He believes the company's Q3 results and outlook strengthened the lithium-driven thesis. The analyst keeps an Outperform rating on Albemarle.
11/14/17
DBAB
11/14/17
DOWNGRADE
DBAB
Hold
Albemarle downgraded to Hold from Buy at Deutsche Bank

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