UPDATE: J.P. Morgan Maintains Overweight Rating, Raises PT for Albemarle
In a report released earlier today, J.P. Morgan & Co. maintained its Overweight rating for Albemarle Corporation (NYSE: ALB), but raised its price target from $69 to $72.
J.P. Morgan said they raised their price target “to reflect higher earnings expectations for 2012 and 2013. Albemarle is showing an ability to grow its earnings in an environment of contracting demand because of the pricing power of its catalyst and polymer additive franchises. We expect a cyclical rebound in earnings performance as volume growth returns in 2013.”
Albemarle Corporation closed yesterday at $63.73.
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