Albemarle Gets $210 Price Target as Lithium Demand and Catalyst Sale Boost Outlook
On March 4, Truist reaffirmed a Buy rating on Albemarle with a $210 price target, citing resilient lithium pricing and demand growth poised to outpace supply. On March 2, Albemarle sold its controlling stake in Ketjen’s refining catalyst division to KPS Capital Partners while keeping a minority interest.
1. Truist Reaffirms Buy Rating and Sets $210 Target
On March 4, Truist reaffirmed its Buy rating on Albemarle with a $210 price target, highlighting resilient lithium pricing and demand growth driven by electric vehicle and grid storage markets likely to surpass supply in the near to medium term.
2. Ketjen Catalyst Division Sale
On March 2, Albemarle sold its controlling stake in Ketjen Corporation’s refining catalyst solutions division to KPS Capital Partners, enhancing liquidity and allowing the company to focus on core lithium and bromine operations while retaining a minority interest.