With the lithium supply-demand story heating up again, we highlighted an opportunity in Albemarle (ALB) last Friday.

At the time, it traded at around $162.

Today, it’s up to $179 and still exploding higher. 

Helping, Deutsche Bank upgraded ALB to a buy rating with a $185 price target. Analysts at Baird also upgraded ALB to a buy with a price target of $210. 

“We are incrementally positive given the recent increase in lithium prices… and our view that demand strength stemming from stationary storage will continue to propel ALB higher,” Baird analysts wrote, as noted by Seeking Alpha. 

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Analysts at Truist also just upgraded ALB to a buy rating with a price target of $205. “The upgrade reflects Truist’s positive outlook on lithium pricing fundamentals, which the firm believes are improving due to better industry-wide production discipline and strong demand in key markets, including energy storage systems and electric vehicles,” added Investing.com.

From its current price of $179, we’d like to see ALB challenge $200 near term.

Sincerely,

Ian Cooper