Albemarle (ALB) PT Raised to $200 at RBC Capital

RBC Capital analyst Arun Viswanathan raised the price target on Albemarle (NYSE: ALB) to $200.00 (from $159.00) while maintaining an Outperform rating.

The analyst commented: "We are most favorable on ALB, given improving lithium fundamentals. Per ALB, Lithium pricing improved through Q4, and inventories have come down to <1 month in Jan, at its lowest levels since 2023. Pricing is now in the ~$12-13/kg range, up from ~$8-9/kg in 2Q25, with Asian spot reaching recent highs of near ~$17/kg. We now believe ALB could see significant y/y EBITDA growth from ~$1.05B in FY25E to ~$1.67B in FY26E from price improvement to near ~$20/kg by 4Q26E, and the potential for strong ESS demand and capacity closures to facilitate continued price momentum. We raise our Q4/FY25/FY26 EBITDA estimates to $230M/$1.06B/$1.67B from $210M/$1.04B/$1.30B, and PT to $200 from $159, now on 15.0x (from 12.0x) our higher FY26E EBITDA estimate, which we believe is also warranted based on a DCF with terminal pricing in the ~$18-20 range."

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