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ALB

Albemarle

$102.40

1.6 (1.59%)

, FMC

FMC Corporation

$91.78

1.81 (2.01%)

07:35
05/17/18
05/17
07:35
05/17/18
07:35

Citi views Tianqi's potential SQM stake as positive for Albemarle, FMC

Tianqi being close to purchasing a 24% stake in SQM for $4.3B, as reported yesterday by Reuters, has positive implications for both Albemarle (ALB) and FMC Corporation, Citi analyst P.J. Juvekar tells investors in a research note. This could be the first step towards "much-needed" consolidation in lithium, the analyst adds. He estimates the offer values SQM's lithium business at around 23 times 2018 EV/EBITDA. The analyst believes the deal, should it materialize, bodes well for the valuations of Albemarle's and FMC's lithium businesses.

ALB

Albemarle

$102.40

1.6 (1.59%)

FMC

FMC Corporation

$91.78

1.81 (2.01%)

SQM

SQM

$58.16

0.905 (1.58%)

  • 17

    May

  • 30

    May

ALB Albemarle
$102.40

1.6 (1.59%)

05/11/18
NOMU
05/11/18
NO CHANGE
Target $130
NOMU
Buy
Albemarle price target lowered to $130 from $141 at Nomura Instinet
Nomura Instinet analyst Aleksey Yefremov lowered his price target for Albemarle (ALB) to $130 and keeps a Buy rating on the shares. The company's Q1 results, while "solid," failed to point to "immediate and meaningful upside earnings revision in Lithium," Yefremov tells investors in a research note. The analyst still sees upside optionality to Albemarle's high-single-digit 2018 lithium price guidance, but notes the pace of increases will likely trail FMC Corporation (FCM) and SQM (SQM).
04/13/18
SBSH
04/13/18
UPGRADE
Target $106
SBSH
Buy
Citi upgrades Albemarle to Buy with shares down 30% year-to-date
Citi analyst P.J. Juvekar upgraded Albemarle to Buy from Neutral with an increased price target of $106. The stock closed yesterday up 8c to $93.39. The analyst is making a "tactical call" with the shares down 30% year-to-date. He does not see a collapse in lithium carbonate/hydroxide contract prices "as predicted by the bears." Juvekar models a "flat to down" contract pricing scenario after 2018 for the company. Albemarle is "one of the few producers that can provide reliable, large quantities of top-quality" lithium carbonate/hydroxide to battery-makers, Juvekar tells investors in a research note. He sees upside to $106 per share and a potential downside case of $85.
04/13/18
SBSH
04/13/18
UPGRADE
Target $106
SBSH
Buy
Albemarle upgraded to Buy from Neutral at Citi
Citi analyst P.J. Juvekar upgraded Albemarle to Buy and raised his price target for the shares to $106 from $95. The analyst does not see a collapse in contract lithium carbonate or hydroxide prices and believes the stock's risk/reward is now skewed to the upside.
05/16/18
SBSH
05/16/18
NO CHANGE
SBSH
Citi calls Axalta, Celanese top takeout candidates in Chemicals
While takeovers in the Chemicals space could slow after unprecedented consolidation in 2015-2017, Axalta Coating (AXTA) and Celanese (CE) represent the top buyout candidates in the U.S., Citi P.J. Juvekar tells investors in a research note. Top potential acquirers include Air Products (APD), PPG (PPG) and Albemarle (ALB), the analyst adds.
FMC FMC Corporation
$91.78

1.81 (2.01%)

05/14/18
05/14/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. UPS (UPS) upgraded to Buy from Neutral at BofA/Merrill with analyst Ken Hoexter saying he thinks UPS's Network Transformation plan that will be launched in a couple months will improve its cost structure and margins, and could prove to be the turning point for the company and drive the multiple back toward historical levels. 2. FMC Corporation (FMC) upgraded to Buy from Neutral at Goldman Sachs with analyst Robert Koort saying the solid first quarter report convinced him to change his rating as pro forma orgnaic growth rates were very strong, and earnings contribution from the DowDuPont (DWDP) acquisition far exceeded his expectations. 3. L Brands (LB) upgraded to Buy from Neutral at Citi with analyst Paul Lejuez saying he acknowledges this is "not an 'all's clear' type of call," and that things may get worse before they get better, however, he feels consensus sentiment has become so bearish and the stock's valuation is "just too cheap to ignore." 4. Lear (LEA) upgraded to Outperform from In Line at Evercore ISI with analyst Chris McNally saying he sees double digit earnings growth through 2020 with earnings growth set to accelerate in 2019 on the back of the GM truck launch and acceleration of E-Systems given megatrends in Electrification & Connectivity. 5. CSX (CSX) upgraded to Neutral from Sell at Goldman Sachs with analyst Matt Reustle citing better risk/reward following successful execution of Q1 network initiatives. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/14/18
GSCO
05/14/18
UPGRADE
GSCO
Buy
FMC Corporation upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Robert Koort upgraded FMC Corp. to Buy from Neutral and raised its price target to $114 from $99. Koort said the solid Q1 report convinced him to change his rating as pro forma orgnaic growth rates were very strong,and earnings contribution from the DowDuPont acquisition far exceeded his expectations. The analyst expects FMC's 2018 earnings to top guidance and for 2019/20 to see double-digit earnings growth. Koort is also encouraged by corn prices that are nearing a two-year high, which has historically been a leading indicator of crop protection sales growth.
05/04/18
FBCO
05/04/18
NO CHANGE
Target $107
FBCO
Outperform
Credit Suisse 'comfortably in the bull camp' on FMC shares
Credit Suisse analyst Christopher Parkinson said he is "comfortably in the bull camp" on FMC Corporation shares following the company's Q1 results, telling investors in a research note that FMC has "multiple levers" to pull to generate above-market growth throughout the 2018-2018 period. He notes that most of his bull thesis is contingent on these levers, including cross-selling, new products and registration and enhanced distribution, which could drive high single digit revenue growth through 2020. Parkinson reiterated an Outperform rating and raised his price target to $107 from $100.
SQM SQM
$58.16

0.905 (1.58%)

02/26/18
MSCO
02/26/18
DOWNGRADE
Target $85
MSCO
Underweight
Morgan Stanley cuts Albemarle to sell with concerns on both supply and demand
As previously reported, Morgan Stanley analyst Vincent Andrews downgraded Albemarle (ALB) to Underweight, the firm's sell-equivalent rating, from Equal Weight citing his concerns on both the lithium supply and demand side. On the lithium demand side, bulls' electric vehicle penetration rate forecasts seem "aggressive, said Andrews. He also now has material concerns on the supply side following the recent Chilean government agreement with SQM (SQM), added Andrews, who lowered his price target on Albermarle to $85 from $100. Morgan Stanley analyst Javier Martinez de Olcoz Cerdan also downgraded SQM to Underweight this morning.
02/26/18
02/26/18
DOWNGRADE
Target $44

Underweight
SQM downgraded to Underweight with $44 price target at Morgan Stanley
As previously reported, Morgan Stanley analyst Javier Martinez de Olcoz Cerdan downgraded SQM (SQM) to Underweight from Equal Weight as he expects lithium prices to peak in 2018 then decline by 45% by 2021 as demand growth falls "far short" of sharp supply increases. Additionally, new supply is low cost and will transfer share from the high end to the low end of the cost curve, added the analyst. While cutting his rating to Underweight, Martinez de Olcoz Cerdan also called SQM the "best-quality lithium player globally" and increased his price target on the stock to $44 from $32.50. Morgan Stanley analyst Vincent Andrews also downgraded Albemarle (ALB) to Underweight this morning, citing his concerns on both the lithium supply and demand side.
03/08/18
HSBC
03/08/18
UPGRADE
Target $50
HSBC
Hold
SQM upgraded to Hold from Reduce at HSBC
HSBC analyst Alexandre Falcao upgraded SQM to Hold while lowering his price target for the shares to $50 from $52. The analyst views the valuation as "much more reasonable" following the recent pullback in the shares.

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LPI

Laredo Petroleum

$8.60

-0.765 (-8.17%)

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$14.57

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AZN

AstraZeneca

$37.03

0.15 (0.41%)

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HEDJ

WisdomTree Europe Hedged Equity Fund

$66.46

-0.24 (-0.36%)

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ATUS

Altice USA

$18.43

-0.12 (-0.65%)

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Clorox

$122.59

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Qualcomm

$59.67

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Orbital ATK

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$0.00

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AMSC

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KKR

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$22.46

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