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ALB

Albemarle

$70.23

-0.245 (-0.35%)

07:26
07/09/19
07/09
07:26
07/09/19
07:26

Albemarle price target lowered to $94 from $100 at KeyBanc

KeyBanc analyst Michael Sison lowered his price target for Albemarle to $94 from $100 to reflect multiple compression for the Lithium sector. The analyst reiterates an Overweight rating on the shares.

  • 25

    Sep

ALB Albemarle
$70.23

-0.245 (-0.35%)

04/15/19
SBSH
04/15/19
DOWNGRADE
Target $13
SBSH
Neutral
Citi sees lithium as 'buyer's market,' downgrades Livent to Neutral from Buy
Citi analyst P.J. Juvekar downgraded Livent (LTHM) to Neutral from Buy and lowered his price target for the shares to $13 from $15. The analyst also reduced his price target for Neutral-rated Albemarle (ALB) to $88 from $92. Following a site visit to the Salar de Atacama and meetings with SQM's (SQM) CFO, Juvekar gets the sense that the lithium market "has become a buyer's market." Chinese buyers seem to have become more aggressive and China's new energy vehicle subsidy cuts may weigh on the market beginning in the second half of 2019, the analyst tells investors in a research note. While Albemarle and Livent's volumes are secured under multi-year terms, pricing for future volumes could come under pressure as new conversion capacity ramps up in 2019-2020, contends Juvekar. He reduced his valuation multiples for both stocks as "competition in the lithium market increases."
05/10/19
KEYB
05/10/19
NO CHANGE
Target $110
KEYB
Overweight
Albemarle price target lowered to $110 from $100 at KeyBanc
KeyBanc analyst Michael Sison reiterated an Overweight rating on Albermarle following the company's Q1EPS results, saying he believes growth and profitability in Lithium are strong with stable pricing and high-teens EBITDA growth in 2019. Long-term contract in Lithium differentiates Albermarle from its peers, a benefit of being the largest and lowest-cost player, Sison tells investors in a research note. He lowered his price target to $100 from $110 to reflect multiple contraction in the lithium space.
05/16/19
LOOP
05/16/19
NO CHANGE
Target $108
LOOP
Buy
Albemarle price target lowered to $108 from $119 at Loop Capital
Loop Capital analyst Chris Kapsch lowered his price target on Albemarle to $108 after participating in a non-deal roadshow with its management, saying the tone of the conversations was "decidedly positive" in spite of the market skepticism regarding the lithium space. The analyst also contends that the industry challenges appear to be discounted in Albemarle valuation and keeps his Buy rating on the stock, even though he lowers his FY19 and FY20 EPS estimates by 5c and 20c to $6.25 and $7.00 respectively.
05/20/19
JEFF
05/20/19
NO CHANGE
Target $90
JEFF
Buy
Albemarle price target lowered to $90 from $114 at Jefferies
Jefferies analyst Laurence Alexander lowered his price target for Albemarle to $90 from $114 while maintaining a Buy rating on the shares. Sharp downward moves in both lithium carbonate and hydroxide spot prices, along with concerns over recent capacity addition announcements, have led to a 42% decline in Albemarle shares since early December, Alexander tells investors in a research note. However, the analyst believes carbonate prices in South America and Asia appear to be troughing. Nonetheless, he thinks a ~15% bounce is likely needed to persuade investors of a sustainable turn. By 2021-2023, Alexander thinks Albemarle's valuation multiple should be driven by validation of its "competitive moat" and confirmation of its focus on delivering on high-return capital projects.

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