In a report released on April 30, Arun Viswanathan from RBC Capital maintained a Buy rating on Albemarle (ALB – Research Report), with a price target of $138.00. The company’s shares closed yesterday at $125.30.
Viswanathan covers the Basic Materials sector, focusing on stocks such as FMC, PPG Industries, and Axalta Coating Systems. According to TipRanks, Viswanathan has an average return of 2.9% and a 56.50% success rate on recommended stocks.
In addition to RBC Capital, Albemarle also received a Buy from Oppenheimer’s Colin Rusch in a report issued yesterday. However, on the same day, Mizuho Securities maintained a Hold rating on Albemarle (NYSE: ALB).
ALB market cap is currently $13.99B and has a P/E ratio of 8.91.
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Albemarle (ALB) Company Description:
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.
