Benzinga | Feb 16, 2021 03:14PM EST

Deutsche Bank Upgrades Albemarle On Lithium Earnings Potential

Albemarle Corporation (NYSE:ALB) is poised to benefit from a potential upturn in lithium earnings, according to Deutsche Bank.

The Albemarle Analyst: David Begleiter upgraded Albemarle from Hold to Buy and raised the price target from $175 to $190.

The Albemarle Thesis: Two new "world-scale" lithium projects are scheduled to commence in 2021, Begleiter said in the upgrade note.

Albemarle is "the largest, most diverse lithium resource base in the world that provides more "shots on goal" than any other lithium company," the analyst said.

The company is "well positioned to capitalize on the 27% compound growth in lithium demand" through 2025, he said.

ALB Price Action: Shares of Albemarle were down 1.4% at $162.34 at last check Tuesday.