J.P. Morgan Raises Estimates On Albemarle (ALB)
J.P. Morgan (NYSE: JPM) released a report today saying that they are raising estimates for Albemarle (NYSE: ALB). The firm said that their 2010 adjusted EPS estimates went from $2.60 to $3.00, "largely to reflect sharply improving pricing in bromine chemicals." 2011 and 2012 estimates were also raised from $3.10 and $3.40 to $3.40 and $3.75 respectively. JPM's new target on the price is $41.00 compared to $37.00 previously. The firm reiterated their Neutral rating on the stock. During today's trading session, ALB has fallen 1.28% to $39.36.
Albemarle Corporation (ALB) is a global developer, manufacturer and marketer of engineered specialty chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, automotive/transportation, pharmaceuticals, crop protection, food-safety and custom chemistry services.
