Raising Fair Values for Albemarle, Sociedad Quimica, and FMC on Higher Lithium Price Forecast
We are increasing our fair value estimates for Albemarle, Sociedad Quimica, and FMC to reflect our updated lithium price forecast, following our in-depth analysis calling for above-consensus global electric vehicle (EV) sales growth. We have raised our long-term lithium carbonate price forecast to $10,000 per metric ton from $6,000 per metric ton previously. Whereas our previous price forecast was based on the marginal operating cost of existing production, our new forecast is based on the incen...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.
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.
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