Baird downgraded Albemarle (ALB) to Neutral from Outperform with an unchanged price target of $210. The firm cites valuation for the downgrade with the shares up 47% year-to-date. The analyst says an improving demand backdrop would be a positive for shares, but fears investor focus will shift to global supply and higher-cost sources that may come online and limit Albemarle’s pricing upside.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALB:
- Albemarle: Valuation Premium and Emerging Supply Risks Justify Hold Rating Despite Positive Lithium Demand Outlook
- Early notable gainers among liquid option names on April 16th
- Albemarle price target raised to $189 from $170 at Morgan Stanley
- Early notable gainers among liquid option names on April 13th
- Albemarle price target raised to $230 from $220 at UBS