- Albemarle (ALB +0.3%) is upgraded to Outperform from Neutral with a $118 price target, raised from $81, at Baird, which believes ALB should benefit from the growth of electric vehicles and storage, especially as Tesla ramps production.
- Baird thinks ALB looks well positioned in a growing lithium market and should benefit from ramping production capacity, increasing lithium prices and demand growth driven, in part, by batteries for electric vehicles and energy storage.
- The firm also believes ALB has upside as a potential consolidator after de-levering from the Chemetall sale.