Albemarle gains after Berenberg raises PT

Albemarle

06/01/2026 15:06

Updates

** Shares of lithium miner Albemarle ALB.N jump ~12% to $163.05 in early trading

** Berenberg raises PT to $135 from $75, still a 7.6% downside to stock's last close

** Says there is enough lithium supply growth to fully cater to incremental demand

** "We think that, adjusting for normalized lithium prices and growth, Albemarle should trade at a single-digit multiple, in line with other miners or commodity chemicals producers" - Berenberg

** Nine of 27 brokerages rate stock "buy" or higher, 17 "hold" and 1 "sell"; median PT is $125 - data compiled by LSEG

** In 2025, ALB rose 64.3%

(Reporting by Dharna Bafna in Bengaluru)

((Dharna.bafna@thomsonreuters.com))