Berenberg raises PT on Albemarle

Albemarle

06/01/2026 11:53

** Berenberg raises lithium miner Albemarle ALB.N price target to $135 from $75

** However, new PT represents a 7.6% downside to the stock's last close

** Brokerage says there is enough lithium supply growth to fully cater for the incremental demand; adds the last leg of price strengthening in late 2025 took lithium carbonate equivalent price to $16,000/tonne and spodumene to $14,000/tonne

** "By the end of 2026, lithium levels will be consistent with current levels, limiting further progress to Albemarle's share price," Berenberg says

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

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

** In 2025, stock was up 64.3%

 (Reporting by Dharna Bafna in Bengaluru)

 ((Dharna.bafna@thomsonreuters.com))