BMO Capital analyst Joel Jackson has reiterated their bullish stance on ALB stock, giving a Buy rating on November 11.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Joel Jackson has given his Buy rating due to a combination of factors including an optimistic outlook on lithium demand and pricing. He has raised the target price for Albemarle to $136, reflecting an anticipated increase in lithium prices to $16,000 per ton by 2027, a year earlier than previously expected. This adjustment is based on improved demand projections, particularly from the energy storage sector in China, which is driving recent price increases.
Jackson maintains an Outperform rating, highlighting the potential for higher-than-expected lithium demand within China compared to international forecasts. He notes that the current valuation presents more upside than downside risk, assuming normalized lithium margins and a reasonable recovery in lithium prices. The report suggests that Albemarle is well-positioned to benefit from these market dynamics, with projected EBITDA growth and stable margins in the coming years.
Jackson covers the Basic Materials sector, focusing on stocks such as Corteva, Albemarle, and FMC. According to TipRanks, Jackson has an average return of 6.2% and a 57.43% success rate on recommended stocks.
In another report released on November 11, DBS also maintained a Buy rating on the stock with a $140.00 price target.