KeyBanc analyst Aleksey Yefremov maintains $Albemarle (ALB.US)$ with a buy rating, and adjusts the target price from $132 to $127.
According to TipRanks data, the analyst has a success rate of 56.8% and a total average return of 8.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Albemarle (ALB.US)$'s main analysts recently are as follows:
Albemarle experienced a commendable third quarter, marked by double-digit growth in the Energy Storage sector and a positive year-over-year inflection in Specialties earnings. The management has retained its outlook for the lithium market, anticipating $12,000 to $15,000 per ton, despite the backdrop of softer pricing, owing to notable advancements in cost reduction.
The firm is optimistic about Albemarle's decisive measures to lower capital expenditures and to trim fixed costs by $300M-$400M. Despite the lithium market being at its lowest point, the current lithium prices are considered unsustainable when viewed from cost-curve and reinvestment economic standpoints. Taking into account the challenging conditions, the firm has adjusted its 2025 price expectations to align with the anticipated prices in the latter half of 2024.
Note:
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