Loop Capital analyst Chris Kapsch keeps a Buy rating and $162 price target on Albemarle (ALB) and also keeps a Hold rating with $62 price target on Sociedad Quimica y Minera de Chile S.A. (SQM). The two stocks were up 8.2% and 5.7% respectively yesterday after a Bloomberg headline that the winning bid in Albemarle’s auction of 10kMT spodumene concentrate had agreed to pay close to $1,300/metric ton for the material, which compared to “spot prices” as low as $950/ton, as quoted by Benchmark Minerals, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALB:
- Albemarle price target lowered to $162 from $168 at Loop Capital
- Early notable gainers among liquid option names on March 11th
- Albemarle price target lowered to $81 from $90 at Morgan Stanley
- Albemarle downgraded to Hold from Buy at Vertical Research
- Albemarle price target lowered to $112 from $115 at Mizuho
