Why Albemarle Stock Just Crashed 10%
Albemarle Corporation (NYSE: ALB) stock tumbled 10.2% through 10:20 a.m. ET Friday, and it's not hard to figure out why. Over the last two days, not one, not two, but four separate analysts have lowered price targets on the lithium miner.
That's the bad news. The good news is that every single one of these analysts still thinks Albemarle stock is underpriced, and most think the stock remains a buy.
Albemarle stock reported its Q2 earnings Wednesday evening -- a massive miss, with Wall Street forecasting $0.41 per share but Albemarle producing only $0.04. Even worse, the $0.04 "profit" was only a pro forma (adjusted) number. When calculated according to generally accepted accounting principles, Albemarle ended up with a $1.96-per-share loss.
Source Fool.com
Albemarle Corp Stock
Currently there is a rather positive sentiment for Albemarle Corp with 17 Buy predictions and 10 Sell predictions.
On the other hand, the target price of 92 € is below the current price of 113.04 € for Albemarle Corp, so the potential is actually -18.61%.
