2021-02-22 07:23:54 ALB Albemarle
02/22/21 02/2207:23 02/22/2107:23 | Albemarle price target raised to $177 from $140 at ArgusArgus analyst Bill Selesky raised the firm's price target on Albemarle to $177 from $140 and keeps a Buy rating on the shares. The company's Q4 earnings per share fell from last year due to weaker results in the Lithium business as a result of lower contract and spot pricing and in the Catalyst division as a result of reduced fuel demand, but its management expects stronger operating performance this year, tracking continued economic recovery, the analyst tells investors in a research note. Selesky adds that he expects the current high lithium inventories to be worked down over the next several months, and he looks for higher pricing in the second half of 2021. |
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