Mizuho downgrades Chemours stock rating on refrigerants delay
Mizuho upgraded Albemarle (NYSE:ALB) stock rating to "Outperform" from "Neutral" with a price target of $130.00 due to strong demand in battery energy storage systems (BESS). The stock is currently trading at $97.65, down 48% over the last six months. Mizuho believes Albemarle is undervalued and estimates its fair value aligns with the upgrade.
The firm raised its lithium carbonate prices forecast for 2027 and 2028, attributing the increase to higher demand. Albemarle is the lowest-cost lithium producer, and its improved balance sheet provides resilience and flexibility for future investments. The company maintains a healthy current ratio of 2.09 and has increased its dividend for 32 consecutive years.
Albemarle reported stronger-than-expected Q2 results, beating earnings and revenue estimates. Net sales increased by 31% compared to the previous year, with adjusted EBITDA more than doubling to $858 million, boosting the enterprise margin to 49%. Despite adjusted EPS estimates for fiscal years 2026 and 2027, RBC Capital maintained its "Outperform" rating on the stock.
Written by urgent.news from Investing.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
