Albemarle price target raised to $136 from $125 at BMO Capital

BMO Capital analyst Joel Jackson raised the firm’s price target on Albemarle (ALB) to $136 from $125 and keeps an Outperform rating on the shares. The firm is raising its expected 2027 Energy Storage average sales price to $16K from $15K, reaching that mid-cycle price a year earlier than previously anticipated, the analyst tells investors in a research note. BMO adds that demand has improved, with lithium catching a bid from increased expectations in China.