Why Albemarle Stock Is Surging This Week
Shares of (NYSE: ALB) are flying high this week and were up 17.8% through 10:30 a.m. ET Friday, according to data provided by S&P Global Market Intelligence.
Albemarle already released its fourth-quarter numbers in mid-February. But given that it's a commodity stock, Albemarle's share prices are typically driven more by lithium prices than the company's operational numbers. Right now, nearly every major player in the industry expects the lithium market to recover, and that could hugely favor Albemarle stock going forward.
After plunging 80% in 2023, lithium carbonate prices are bottoming out and headed higher this week. So far this year, they're up 5%, according to data from Trading Economics.
Source Fool.com
Albemarle Corp Stock
€118.52
-0.420%
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 very positive potential of 50.19% compared to the current price of 118.52 € for Albemarle Corp.
