1 Rallying Lithium Stock: Is the Worst Now Over? Time to Buy?
This story has been told before (by me, at numerous points in 2023), but it appears that one of the leading producers of lithium, Albemarle (NYSE: ALB), is signaling that the worst might finally be over.
After a massive run-up in 2022 for the price of the commodity -- a key ingredient in electric vehicle (EV) lithium ion batteries -- lithium's market price proceeded to tank last year due to excess supply and other issues springing from a lack of price transparency in some markets like China.
However, so far in 2024, lithium prices seem to have stabilized just a bit higher than where they were in 2021. Albemarle itself provided a full-year forecast reflecting what it sees as lithium market price stabilization, and continued demand growth for its products driven by global EV sales. Is it now safe to buy the stock?
Source Fool.com
Albemarle Corp Aktie
Albemarle Corp wird von der Community favorisiert: Deutlich mehr Buy- als Sell-Einschätzungen.
Die Community erwartet für Albemarle Corp ein Kursziel von 175 €, was eine Steigerung von über 50% gegenüber 96.7 € bedeuten würde.
