Albemarle price target raised to $120 from $117 at RBC Capital

RBC Capital raised the firm’s price target on Albemarle (ALB) to $120 from $117 and keeps an Outperform rating on the shares. The recovery has been slow in lithium but inventories appear to be shrinking on improving demand and some curtailments, the analyst tells investors in a research note. Albemarle continues to grow volumes in its conversion network, CGP3 is still set to come online late this year, and proceeds from its Ketjen spin should help improve near-term liquidity, the firm added.