Albemarle discipline on costs to continue, says Truist

Truist analyst Peter Osterland keeps a Buy rating and $210 price target on Albemarle (ALB) after the company’s non-deal roadshow. The significant momentum for lithium pricing seen in recent months appears to be sustainable, with strong demand growth particularly driven by the EV and grid storage markets likely to outpace industry supply growth in the near to medium term, the analyst tells investors in a research note. The firm also expects the company’s discipline around costs and capital expenditures to continue near term, Truist adds.