Baird upgraded Albemarle (ALB) to Outperform from Neutral with a price target of $210, up from $113. The firm is “incrementally positive” on Albemarle given the recent increase in lithium prices. Demand strength from stationary storage “will continue to propel” Albemarle shares higher, the analyst tells investors in a research note. Baird believes the stock’s valuation “appears to have more room to run.”
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