Oppenheimer Keeps Their Buy Rating on Albemarle Corp (ALB)

By Carrie Williams

Oppenheimer analyst Colin Rusch maintained a Buy rating on Albemarle Corp (ALBResearch Report) today and set a price target of $157. The company’s shares closed yesterday at $81.73.

Rusch said:

“ALB reports post-close next Wednesday and hosts its conference call the following morning. Given commentary from LTHM this week, we believe ALB’s 1Q:19/2019 guidance will be the first substantial test of the ALB bull case, which is premised on the idea that ALB has defensible contracts and EBITDA margins for its lithium concentrate volumes through lulls in the electric vehicle growth cycle. We believe guidance will reflect any downward pressure ALB is seeing on both volume and price. We remain buyers as we believe ALB has industry-leading costs and expertise in optimizing trace impurities essential for efficient battery chemistry evolution, and is a supplier of choice for auto OEMs supporting EV ramp plans, which we believe will support ALB’s volume growth and margin stability.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 10.1% and a 48.7% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.

Albemarle Corp has an analyst consensus of Moderate Buy, with a price target consensus of $104.88.

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Albemarle Corp’s market cap is currently $8.68B and has a P/E ratio of 26.11. The company has a Price to Book ratio of 2.46.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock.

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Albemarle Corp. is a specialty company, which engages in developing, manufacturing, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services.