Should You Buy Albemarle Stock While It's Still Down?
Integrated mining and refining operation Albemarle (NYSE: ALB) was early to pick up on the impending demand for lithium -- a key ingredient in lithium-ion batteries used in smartphones and electric vehicles (EVs). The company got new supply up and running ahead of spiking demand for EVs over the last few years. But as an EV battery needs orders of magnitude more lithium than a small smartphone, global supply was inadequate, causing lithium prices to spike. Albemarle stock performed in much the same way through the end of 2022: It soared.
As is the case with cyclical businesses tied to manufacturing, though, lots of new competing lithium supply has come online in 2023, just in time for EV sales growth to slow dramatically. Booming lithium prices have fallen, dragging Albemarle stock with it. Shares are down more than 60% from all-time highs late in 2022 and are now up a meager 30% over the last five-year stretch.
With Albemarle down on its luck, is now the time to buy?
Source Fool.com
Albemarle Corp Aktie
Aktuell gibt es mit 31 Buy-Einschätzungen und 13 Sell-Einschätzungen ein positives Sentiment für die Albemarle Corp Aktie.
Ein Kursziel von 145 € für Albemarle Corp könnte zu einer Steigerung von mehr als 50% gegenüber dem aktuellen Kurs von 86.96 € führen.
