Albemarle Company (NYSE:ALB) shares are buying and selling larger Monday after a number of analysts raised value targets on the inventory.
What To Know: RBC Capital analyst Arun Viswanathan maintained an Outperform ranking on Albemarle and raised the worth goal from $117 to $120. As well as, Scotiabank analyst Ben Isaacson maintained a Sector Carry out ranking on Albemarle and raised the worth goal from $70 to $85.
On Friday, Truist Securities analyst Peter Osterland maintained a Maintain ranking on Albemarle and raised the worth goal from $87 to $91. The flurry of analyst value goal changes come after the corporate reported third-quarter earnings late final week.
Albemarle reported an adjusted lack of 19 cents per share, beating the consensus estimate for a 78 cent-loss. As well as, the corporate reported gross sales of $1.30 billion, beating the consensus estimate of $1.27 billion, in keeping with Benzinga Professional.
The corporate mentioned it ended the quarter with liquidity of $3.5 billion, together with $1.9 billion of money and money equivalents.
“Our group delivered sturdy third quarter outcomes, with adjusted EBITDA up year-over-year regardless of decrease lithium costs, demonstrating the power of our enterprise and disciplined execution,” mentioned Kent Masters, chairman and CEO.
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ALB Value Motion: On the time of writing, Albemarle shares are buying and selling 6.26% larger at $103.20, in keeping with information from Benzinga Professional.
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