Why Shares in Albemarle Popped by 18% This Week

Albemarle (NYSE: ALB) shares went up 17.9% this week after several Wall Street analysts increased their price targets following the company's third-quarter earnings report last week.Analysts are more optimistic because Albemarle is cutting costs and capital spending, and making productivity improvements as lithium demand weakens. Management expects full-year results to be "toward the higher end of the previously published $9/kg scenario ranges" for the price of lithium.It's been a challenging couple of years for Albermarle as the previous boom in electric vehicle (EV) investment (a market that drives demand for lithium batteries) slipped into a slowdown as EV sales haven't lived up to expectations.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool