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.