Albemarle Wants to Consolidate Lithium Production With a Key Acquisition -- Is the Stock a Buy?
Electric vehicle (EV) production is a top priority among automakers this year. However, for miners and refiners of lithium, a key raw ingredient in the manufacture of the big batteries needed in EVs, 2023 has been a story of commodity pricing.
You see, lithium demand is soaring, but that's not the only driver of revenue for lithium producers. Final pricing on the material is also a key factor. And after skyrocketing through late 2022, lithium prices have tanked this year as more supply of the elemental ingredient has hit the market.
Lithium leader Albemarle (NYSE: ALB) has a plan to deal with the volatility, and it involves a key acquisition of pre-revenue start-up Liontown Resources (OTC: LINR.F) in Western Australia. With due diligence of Liontown's assets now underway, is Albemarle stock a buy now?
Source Fool.com
Albemarle Corp Stock
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 174 € shows a very positive potential of 64.03% compared to the current price of 106.08 € for Albemarle Corp.
