Goldman Sachs Raises Albemarle EPS Esstimates
Goldman Sachs is raising its Albemarle Corporation (NYSE: ALB) 2010/2011/2012 EPS estimates to $3.69/$3.78/$4.10 from $3.30/$3.65/$4.00, the company said this morning.
“The EPS estimate increases reflects the upbeat 3Q results and strong demand for ALB product portfolio,” Goldman Sachs wriets. “We are also raising our 12-month price target to $57 (+$2) on 15.0X 2011E EPS (vs. our prior target of $55, or 15.0X our prior $3.65 2011 EPS estimate.) to reflect better growth prospects. Key risks include weaker volumes, pricing erosion, and raw material spikes.
Albemarle currently trades for $50.00.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.