Deutsche Bank Raises Albemarle (ALB) Target, Signals Cautious Optimism on Lithium

Albemarle Corporation (NYSE:ALB) is one of the best battery tech stocks to buy right now. On August 4, Deutsche Bank raised its price target for Albemarle from $65 to $74 while keeping a Hold rating. The new target shows they feel a little more positive about the company, but they are still being cautious.

Deutsche Bank Raises Albemarle (ALB) Target, Signals Cautious Optimism on Lithium

A team of scientists in a laboratory observing the sophisticated engineering of specialty chemicals.

Albemarle has halted its U.S. lithium refinery project, cut capital spending by 50%, closed its Chengdu plant, shifted Chinese production to carbonate, and began commercial output from its Kemerton facility to counter weak prices and preserve margins.

Albemarle Corporation (NYSE:ALB) is a leading producer of lithium, which is used in batteries for electric cars. Because the world is slowly but surely switching to electric vehicles, the need for lithium is growing. That makes the company worth considering for the long term. Even with the price target going up, the expected gain is only about 7%. This is not a big return in the short run. But Albemarle is in a good spot for the future, since more clean energy and battery use are likely coming.

Albemarle Corporation (NYSE:ALB) extracts lithium, a vital input for electrochemical storage units powering electric mobility, grid stabilization systems, and portable electronic apparatuses across expanding clean energy and digital ecosystems.

While we acknowledge the risk and potential of ALB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ALB and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.