Albemarle price target raised to $230 from $185 at Argus

Argus raised the firm’s price target on Albemarle (ALB) to $230 from $185 and keeps a Buy rating on the shares. The company’s results are linked closely to pricing trends in lithium, a key component in electric vehicle batteries, and at $28,750 per tonne, the price of lithium is up about 300% year over year, with supply and demand trends in the lithium market that appear poised to improve into 2027, the analyst tells investors in a research note.