Albemarle price target raised to $133 from $108 at RBC Capital

RBC Capital raised the firm’s price target on Albemarle (ALB) to $133 from $108 and keeps an Outperform rating on the shares. The company had a decent Q3 with double-digit growth in Energy Storage, Specialties earnings inflecting positive y/y, and the management maintaining its outlook for the $12k-15k/ton lithium case despite weaker pricing given significant cost improvement, the analyst tells investors in a research note.