1 Wall Street Analyst Thinks Albemarle Stock Is Going to $105. Is It a Sell?
A Mizuho analyst was left unimpressed by lithium compound company Albemarle's (NYSE: ALB) latest earnings and guidance and cut Mizuho's price target for the company by $25 to $105. The new target is roughly 14% below the current price, although the analyst kept a "neutral" rating on the stock.
There's no avoiding the fact that the price of lithium will guide Albemarle's earnings prospects, and that's implied in Albemarle's guidance for 2024. Indeed, the following guidance was below the analyst consensus for 2024.
Albemarle 2024 Guidance based on different Average Lithium Market Prices ($/kg)
Source Fool.com
Albemarle Corp Stock
€121.00
1.660%
The stock is one of the favorites of our community with 25 Buy predictions and 3 Sell predictions.
As a result the target price of 178 € shows a positive potential of 47.11% compared to the current price of 121.0 € for Albemarle Corp.
