Albemarle (ALB) Receives a Rating Update from a Top Analyst


Oppenheimer analyst Colin Rusch reiterated a Buy rating on Albemarle (ALB) today and set a price target of $98.00. The company’s shares closed last Thursday at $84.03.

According to TipRanks.com, Rusch is a top 100 analyst with an average return of 31.8% and a 58.1% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as American Superconductor, SolarEdge Technologies, and Westport Fuel Systems.

Albemarle has an analyst consensus of Hold, with a price target consensus of $77.92, a -10.1% downside from current levels. In a report issued on July 30, Jefferies also maintained a Buy rating on the stock with a $100.00 price target.

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Based on Albemarle’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $739 million and net profit of $107 million. In comparison, last year the company earned revenue of $832 million and had a net profit of $134 million.

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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. It operates through the following segments: Lithium, Bromine Specialties, and Catalysts. The Lithium segment engages in developing and manufacture of basic lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties and reagents. The Bromine Specialties segment consists of bromine and bromine-based business includes products used in fire safety solutions and other specialty chemicals applications. The Catalysts segment contain two product lines: clean fuels technologies, which is primarily composed of hydro processing catalysts, and heavy oil upgrading that comprises of fluidized catalytic cracking catalysts and additives. The company was founded in 1993 and is headquartered in Charlotte, NC.

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