Albemarle upgraded to Neutral from Underperform at Baird

Baird upgraded Albemarle (ALB) to Neutral from Underperform with a price target of $113, up from $81. The firm attributes the recent rally in the shares to optimism regarding lithium end-market demand tied to energy storage. Baird is pulling back on its bearish stance on Albemarle but remains on the sidelines due to uncertainty with the company’s competitive dynamics and a lack of visibility. The company is seeing an improving demand backdrop driven by stationary storage, contends the firm.