Why Shares of Albemarle Are Powering Higher This Week
Charging up investors' beliefs that the company will thrive in the coming years, Albemarle (NYSE: ALB) provided an auspicious business update on Wednesday. But that wasn't the only catalyst for the lithium stock's recent rise. Several analysts on Wall Street waxed bullish about the stock's prospects, motivating those on Main Street to click the buy button.
As of 10:49 a.m. ET today, shares of Albemarle had risen 12.1% since last Friday, according to data provided by S&P Global Market Intelligence.
Management provided multiple figures to suggest Albemarle is poised for significant growth, using preliminary numbers for 2022. With revenue, for example, it forecasts growth from $7.3 billion in 2022 to between $17.6 billion and $19.3 billion in 2027.
Source Fool.com
