Albemarle (ALB) Gets Boost From Rating, PT Upgrade

We recently published 10 Stocks With Easy 7-38% Upside in Just a Day. Albemarle Corp, (NYSE:ALB) is one of the best performers on Wednesday.

Albemarle Corp. rallied for a second day on Wednesday, adding 7.54 percent to close at $87.68 apiece as investors took path from an investment company’s rating upgrade for its stock.

In a market note on Tuesday, UBS raised its price target for Albemarle Corp, (NYSE:ALB) to $89 from $62 previously, marking a 9.16-percent upside potential from its closing price of $81.53 on the same day. It also upgraded its rating for the stock to “neutral” from “sell” previously.

According to UBS, its revision reflected optimism over China’s ongoing intervention in the stabilization of lithium supply, which it sees would bolster prices by 20 percent in 2026.

For next year, UBS said it expects some 100,000 metric tons of net lithium supply to be slashed as a result of site closures and reduced production initiatives at 10 sites in China. He said this could cut oversupply by around 6 percent and support a price surge to around $12 to $13 per kg, as compared with the $10 per kg it predicted previously.

With that said, UBS said its outlook for Albemarle Corp, (NYSE:ALB) has become more balanced now, but with a higher chance of moving higher in the future.