Piper Sandler analyst Charles Neivert last night initiated coverage of Albemarle with an Overweight rating and $310 price target. The analyst believes the company is transitioning from a cyclical to one more associated with growth, which deserves a multiple more in line with its historical performance. Albemarle is basically a lithium pure play on a going forward basis, the analyst tells investors in a research note. Not only is lithium a vast proportion of the overall earnings of Albemarle, but it also represents the bulk of the earnings upside, says Piper.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on ALB:
- Albemarle initiated with an Overweight at Piper Sandler
- Albemarle price target raised to $305 from $290 at Deutsche Bank
- Albemarle price target raised to $362 from $340 at RBC Capital
- Albemarle price target raised to $497 from $461 at Oppenheimer
- Albemarle price target raised to $305 from $298 at Baird