Missed Investing in Lithium Giant Albemarle? 1 Small Company Might Hold Similar Upside Potential.
As electric vehicle (EV) adoption soars, demand for lithium has followed suit. The element is a key ingredient in the making of lithium-ion batteries, which have been riding around in our pockets for years (in the form of smartphone batteries), but are increasingly powering our very movement.
Top lithium producer Albemarle (NYSE: ALB) was an early mover, catching on to the coming wave of EV adoption and pivoting toward the battery energy storage market years ago. After a more than 150% run in the stock over the last five years, Albemarle is now a large business with a market cap of over $28 billion.
There are other ways to play the lithium demand run, though. Let's take a look at far smaller operation Livent (NYSE: LTHM), which was spun off from chemical manufacturer FMC in 2019. Livent is now readying to merge with lithium miner Allkem (OTC: OROCF). Once combined, could this leader in lithium mining and refining offer similar upside potential to Albemarle?
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 60.16% compared to the current price of 108.64 € for Albemarle Corp.
