1 Wall Street Analyst Thinks Albemarle Stock Is Going to $124. Is It a Buy?
ALBAlbemarle(ALB) The Motley Fool·2024-06-19 05:50

Investors have turned negative on the prospects for lithium as the EV market has cooled.A UBS analyst recently lowered his price target for lithium mining company Albemarle (ALB -1.08%) stock to $124 from $132, but kept a neutral rating on the stock. However, even that lower price target still implies a more than 20% upside from Tuesday's closing price.As Joshua Spector of UBS notes, the price of lithium has improved marginally in 2024, but it's still far below where it peaked in November 2022.Unfortunately ...