Bromine Prices Rise For ALB, But 3Q Still Impressive

Citigroup has published a research report on Albemarle Group

following 3Q results that were reported on the upside. In the report, Citigroup writes "ALB's impressive 3Q beat was driven by continued tightness in bromine and robust volumes in catalysts. This confluence of factors has allowed ALB to achieve record margins in Polymer Additives and Catalysts. Though rising rare earth prices may provide a headwind for the next few quarters, ALB will counter with price increases of its own." Citigroup maintains its Buy rating and has raised the price target from $54 to $57. Albemarle closed Friday at $49.02.