Billionaire Michael Platt’s 10 Stock Picks with Huge Upside Potential

3. Albemarle Corporation (NYSE:ALB)

BlueCrest Capital Management’s Q4 Stake: $5.82 million

Upside Potential as of April 29: 45.44%

Number of Hedge Fund Holders: 36

Albemarle Corporation (NYSE:ALB) focuses on engineered specialty chemicals. Its Energy Storage division focuses on recycling, technical services, and lithium compounds. The company’s dominance in the lithium industry provides it a vital position across the EV supply chain, with EV clients accounting for more than 80% of its sales. Albemarle’s range is further broadened by its position as a pioneer in catalyst products and one of the top three bromine producers.

In the fourth quarter of 2024, Albemarle Corporation (NYSE:ALB) reported net sales of $1.2 billion and adjusted EBITDA of $251 million. However, the company encountered difficulty when lithium prices fell by 53%, reducing revenues in its Energy Storage segment. The company reported total revenue of $5.38 billion in 2024, a 44.08% drop from the prior year.

On March 7, Mizuho Securities revised its outlook for Albemarle Corporation (NYSE:ALB). The firm reduced its price target to $85 from $90, while maintaining a Neutral rating on the company. The change comes after a thorough analysis of a summit hosted by Benchmark Minerals, a renowned consultant in the lithium sector. The summit’s analysis found that government and strategic investor commitments to the lithium sector remain strong. However, the market anticipates a tipping point in spot lithium pricing. Benchmark Minerals anticipates a modest increase in pricing by 2026, with a more substantial rise projected between 2027 and 2028.