Analysts are Upgrading These 5 Stocks

04. Albemarle Corporation (NYSE:ALB)

Number of Hedge Fund Holders: 46

Albemarle Corporation (NYSE:ALB) specializes in developing, producing, and distributing specialized chemicals for various industries. The company is divided into three main segments – Lithium, Bromine, and Catalysts.

On May 18, UBS upgraded Albemarle Corporation (NYSE:ALB) from Neutral to Buy and raised the price target from $196 to $225. According to the analyst, the recent 2023 guidance reset by the company presents a favorable opportunity to enter into what is considered the “best growth opportunity” in the chemicals industry. The firm specifically highlights the current shift in China’s lithium pricing and the 2023 earnings reset as factors expected to generate increasingly positive sentiment surrounding the stock.