Albemarle hits two-year high as Baird upgrades to buy on improving lithium demand outlook
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Albemarle (ALB) shares rose 2.2% to a two-year high of $164.98 after Baird upgraded the stock to Buy with a price target of $210, citing strong lithium demand from energy storage. Analyst Ben Kallo raised FY 2026 earnings estimates to $1.26/share, reflecting increased lithium prices. Battery-grade lithium carbonate prices have surged to nearly $16/kg, supporting Albemarle's earnings potential. Kallo also revised FY 2027 EBITDA forecasts to $1.39B, with potential growth to $1.8B if prices continue to rise. Jefferies also reiterated a Buy rating, raising its target to $167.
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