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Albemarle (NYSE:ALB) inventory is getting a lift on Thursday as traders react to a brand new value prediction for the shares.
The brand new value prediction comes from UBS analyst Joshua Spector. He set a value goal of $255 per share for ALB inventory. That represents a possible 8.2% upside for the shares. The analyst’s prior value goal was $196. Additionally value noting is the analysts’ consensus value goal of $282.74 for the shares.
To go together with this elevated value goal, Spector upgraded ALB inventory from a “impartial” ranking to a “purchase” ranking. The analysts’ consensus ranking for ALB shares is “moderate-buy.” That’s based mostly on 20 opinions.
Why The Bullish Stance On ALB Inventory?
The UBS analyst mentioned the next about ALB inventory in a be aware to shoppers obtained by CNBC.
“We see the present inflection in China lithium pricing and 2023 earnings reset resulting in more and more optimistic sentiment on the inventory. Inflection of lithium costs and battery manufacturing in China is setting a a lot larger ground vs prior cycles.”
Spector isn’t the one analyst lately impressed with ALB inventory. Baird analyst Ben Kallo weighed in on the corporate firstly of the week. He upgraded it to an “outperform” ranking and set a value goal of $288 per share. Kallo went as far as to say Albermarle might be a lithium business chief.
ALB inventory is up barely as of Thursday morning.
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On the date of publication, William White didn’t have (both instantly or not directly) any positions within the securities talked about on this article. The opinions expressed on this article are these of the author, topic to the InvestorPlace.com Publishing Tips.
Article printed from InvestorPlace Media, https://investorplace.com/2023/05/albemarle-price-predictions-is-alb-stock-really-worth-255/.
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