Report
Seth Goldstein
EUR 100.00 For Business Accounts Only

Albemarle Falls 5% on Analyst Downgrade; We Maintain Our $130 FVE With Outlook Unchanged

On Jan. 15, a sell-side broker reduced its target price for Albemarle on the expectation that near-term earnings results would come in below expectations. As we write, shares are down roughly 5%. We note that our near-term forecast includes slightly lower lithium prices resulting in lower profits as we expect volatility in the lithium market over the near term. 
However, we continue to see long-term value in Albemarle's lithium operations. With our outlook unchanged, we maintain our $130 fair va...
Underlying
Albemarle Corporation

Albemarle is a global developer, manufacturer and marketer of chemicals across a range of end markets including energy storage, petroleum refining, consumer electronics, construction, automotive, lubricants, pharmaceuticals, crop protection and custom chemistry services. The company's segments include: Lithium, which develops and manufactures a range of basic lithium compounds and lithium specialties and reagents; Bromine Specialties, which includes products used in fire safety solutions and other chemicals applications; and Catalysts, which includes Clean Fuels Technologies, fluidized catalytic cracking catalysts and additives, and performance catalyst solutions.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Seth Goldstein

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