UPDATE: Piper Jaffray Reduces PT to $67 on Albemarle on Bromine Derivatives Visibility
Piper Jaffray reiterated its Overweight rating on Albemarle (NYSE: ALB) and lowered its price target from $72 to $67.
Piper Jaffray commented, "At this point, Albemarle is largely a 2013 story, with Fine Chemistry doubling capacity to keep pace and NBPT exhibiting robust growth, and Catalysts expecting a solid lead-in to 2013 on higher HPC volumes y/y. The larger question marks are olumes and pricing for bromine derivatives, for which we expect more clarity post Chinese New Year."
Albemarle closed at $55.33 on Friday.
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