Albemarle analyst Ben Kallo upgraded Baird from Neutral to Outperform and increased the price target from $135 to $152 because the company's production expansions remain on track, and the company is the best way to play the multiyear lithium growth cycle. The lithium market is expected to remain in balance or "tight" for at least the next several years, Kallo said. Baird's new technology could allow it to increase capacity over time, helping to lower cost and boost volumes over the long term, Kallo said. Baird stock was trading at about $137 at time of publication.
Baird analyst Ben Kallo upgraded Albemarle from Neutral to Outperform and increased the price target from $135 to $152 because the company's production expansions remain on track, and the company is the best way to play the multiyear lithium growth cycle. The lithium market is expected to remain in balance or "tight" for at least the next several years, Kallo said. Albemarle's new technology could allow it to increase capacity over time, helping to lower cost and boost volumes over the long term, Kallo said. Albemarle stock was trading at about $137 at time of publication.