1 Rallying Lithium Stock: Is the Worst Now Over? Time to Buy?
This story has been told before (by me, at numerous points in 2023), but it appears that one of the leading producers of lithium, Albemarle (NYSE: ALB), is signaling that the worst might finally be over.
After a massive run-up in 2022 for the price of the commodity -- a key ingredient in electric vehicle (EV) lithium ion batteries -- lithium's market price proceeded to tank last year due to excess supply and other issues springing from a lack of price transparency in some markets like China.
However, so far in 2024, lithium prices seem to have stabilized just a bit higher than where they were in 2021. Albemarle itself provided a full-year forecast reflecting what it sees as lithium market price stabilization, and continued demand growth for its products driven by global EV sales. Is it now safe to buy the stock?
Source Fool.com
Albemarle Corp Stock
Our community is currently high on Albemarle Corp with 32 Buy predictions and 5 Sell predictions.
As a result the target price of 147 € shows a very positive potential of 80.04% compared to the current price of 81.65 € for Albemarle Corp.
