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Fly News Breaks for February 21, 2020
Feb 21, 2020 | 08:48 EDT
Oppenheimer analyst Colin Rusch maintained an Outperform rating on Albemarle (ALB) and raised his price target on shares to $116 from $86 following the company reaffirming its FY20 guidance. The analyst continues to model "steady unit growth, margin expansion, and flattish lithium prices" as the company implements cost efficiencies. While the low-end of the company's guidance could be tested by the impact of the coronavirus, Rusch believes investors will take a multi-year view on Albemarle. He sees the company benefiting from its top position in the lithium market as the transportation industry moves toward battery and hybrid vehicles on their way to autonomous vehicles.
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