Albemarle Corporation ( NYSE: ALB) shares are trading greater Monday after numerous experts raised cost targets on the stock.
What To Know: RBC Capital expert Arun Viswanathan kept an Outperform ranking on Albemarle and raised the cost target from $ 117 to $ 120. In addition, Scotiabank expert Ben Isaacson kept a Sector Perform ranking on Albemarle and raised the cost target from $ 70 to $ 85.
On Friday, Truist Securities expert Peter Osterland kept a Hold ranking on Albemarle and raised the cost target from $ 87 to $ 91. The flurry of expert cost target modifications followed the business reported third-quarter profits late recently.
Albemarle reported an adjusted loss of 19 cents per share, beating the agreement price quote for a 78 cent-loss. In addition, the business reported sales of $1.30 billion, beating the agreement price quote of $1.27 billion, according to Benzinga Pro.
The business stated it ended the quarter with liquidity of $3.5 billion, consisting of $1.9 billion of money and money equivalents.
” Our group provided strong 3rd quarter outcomes, with changed EBITDA up year-over-year regardless of lower lithium costs, showing the strength of our organization and disciplined execution,” stated Kent Masters, chairman and CEO.
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ALB Cost Action: At the time of composing, Albemarle shares are trading 6.26% greater at $103.20, according to information from Benzinga Pro.
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