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Albemarle (ALB) Gets a Buy Rating from Deutsche Bank

Deutsche Bank analyst David Begleiter maintained a Buy rating on Albemarle (ALBResearch Report) on June 7. The company’s shares closed last Thursday at $202.17.

According to TipRanks.com, Begleiter is a 5-star analyst with an average return of 7.7% and a 55.7% success rate. Begleiter covers the Basic Materials sector, focusing on stocks such as Compass Minerals International, Air Products and Chemicals, and Sherwin-Williams Company.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Albemarle with a $275.07 average price target, implying a 31.5% upside from current levels. In a report issued on May 24, BMO Capital also maintained a Buy rating on the stock with a $280.00 price target.

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The company has a one-year high of $291.48 and a one-year low of $157.82. Currently, Albemarle has an average volume of 1.21M.

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Albemarle Corp. is a specialty company, which engages in developing, manufacturing, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine Specialties, and Catalysts. The Lithium segment engages in developing and manufacture of basic lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties and reagents. The Bromine Specialties segment consists of bromine and bromine-based business includes products used in fire safety solutions and other specialty chemicals applications. The Catalysts segment contain two product lines: clean fuels technologies, which is primarily composed of hydro processing catalysts, and heavy oil upgrading that comprises of fluidized catalytic cracking catalysts and additives. The company was founded in 1993 and is headquartered in Charlotte, NC.

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