What’s going on with Albemarle Stock today? -Albemarle (NYSE:ALB)

Albemarle Corporation (NYSE:ALB) shares are trading higher on Monday after multiple analysts raised their price targets for the stock.

What you need to know: RBC Capital analyst Arun Viswanathan maintained an Outperform rating on Albemarle and raised its price target from $117 to $120. Also Scotiabank analyst Ben Isaacson maintained a Sector Perform rating on Albemarle and raised its price target from $70 to $85.

Truist Securities analyst reported this on Friday Peter Oosterland maintained a Hold rating on Albemarle and raised its price target from $87 to $91. The wave of price target revisions from analysts comes after the company reported third-quarter earnings late last week.

Albemarle reported an adjusted loss of 19 cents per share, beating the consensus estimate of a loss of 78 cents. Additionally, the company reported revenue of $1.30 billion, surpassing the consensus estimate of $1.27 billion. Benzinga Pro.

The company said it ended the quarter with $3.5 billion in liquidity, including $1.9 billion in cash and cash equivalents.

“Our team delivered strong results in the third quarter, with adjusted EBITDA increasing year-over-year despite lower lithium prices, demonstrating the strength of our business and our disciplined execution,” said Kent Meesterschairman and CEO.

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ALB price promotion: At the time of writing, Albemarle shares are trading 6.26% higher at $103.20, according to data from Benzinga Pro.

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