Albemarle Corporation Shares Down 5% Following 2021 Investor Day
<p><a href='https://financialmodelingprep.com/financial-summary/ALB'>Albemarle Corporation (NYSE:ALB) </a>shares were trading 5% lower today following the company’s 2021 Investor Day. </p>
<p>Analysts at Oppenheimer increased their price target on the company’s shares to $296 from $250, mentioning they are encouraged by the ongoing effort on cost optimization, including around $100 million in annual operating savings and more than 50% trimming in Lithium capex. </p>
<p>According to the analysts at Oppenheimer, they continue to see significant operating leverage in Albemarle's model, especially if it divests its Catalyst business and increases its Lithium and Bromine capacity.</p>
<p>Analysts at Deutsche Bank also provided an update on the company, noting that with the lithium market entering a multi-year period of tightening that should support steadily rising prices, 2 new world-scale projects starting up by Q1/22 that will increase Albemarle's lithium capacity by more than 80% and the largest, most diverse lithium resource base in the world that provides more "shots on goal" than any other company, they believe the company is well-positioned to capitalize on the forecasted 31% compound growth in lithium demand through 2025.</p>

NYSE:ALB