Market Overview

UPDATE: Piper Jaffray Initiates Albemarle Corporation at Overweight with $72 PT on Defensible Market Position

Related ALB
Jefferies Is Playing The Chemical Sector, But Sees 'More Murk Likely'
Albemarle Announces Expansion Plan for Production of Lithium Battery Materials

Piper Jaffray initiated coverage on Albemarle Corporation (NYSE: ALB) with a rating of Overweight and $72 price target.

Piper Jaffray noted, "We believe that Albemarle's industry-leading market positions, geographic diversity and technological advantages allow it to stand out amongst its peers. In addition, an emphasis on innovation, successes in low-cost manufacturing, and a strategic focus on improvement/expansion of core technologies position will allow the company to continually outperform its peers within the specialty and diversified chemicals sector. We believe the company's organic 2015 growth targets ($7.25 in EPS on revenues of ~$4 billion at the midpoints) are aggressive but achievable, resulting in $1 billion in EBITDA and potentially a $100+ stock."

Albemarle Corporation closed at $56.53 on Thursday.

Latest Ratings for ALB

Sep 2015Jefferies
Sep 2015Deutsche BankMaintainsBuy
Aug 2015MacquarieMaintainsOutperform

View More Analyst Ratings for ALB
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Initiation Pre-Market Outlook Analyst Ratings


Related Articles (ALB)

Get Benzinga's Newsletters