Jan. 7 at 1:35 PM
Shares of lithium miner Albemarle rose again ahead of Wednesday’s open after Baird upgraded the stock to Buy, citing higher lithium prices and stronger demand from energy storage. Baird raised its price target to
$210 from
$113 and lifted its 2026 earnings forecast to
$1.26 per share, compared with a prior expectation of a loss.
Lithium prices, which had fallen below
$9,000 per metric ton after peaking in late 2022, have recently rebounded to around
$18,000 per ton, driven by growing demand for utility-scale battery storage. Albemarle shares have already climbed roughly 75% over the past three months, benefiting from the recovery in commodity prices.
Sentiment has also improved following a recent Jefferies upgrade that highlighted long-term demand from energy storage, electric vehicles, and robotics. As a result, 39% of analysts now rate Albemarle stock a Buy, up from about 30% a few months ago, while the average price target has risen sharply
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