Albemarle upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley analyst Vincent Andrews upgraded Albemarle (ALB) to Equal Weight from Underweight with a price target of $147, up from $58, following an ESS shipment driven lithium price rally in the last few months. The firm’s commodities team expects this ESS shipment green shoot to more than offset expected EV demand weakness and the return of significant temporarily curtailed capacity as well as the start up of significant new capacity anticipated in 2026 and later, the analyst tells investors.