Lithium Price Volatility Triggers Albemarle's Q3 Earnings Stumble - Analysts Trim Price Targets
Portfolio Pulse from Nabaparna Bhattacharya
Albemarle Corporation (ALB) missed Q3 earnings and sales estimates, with Adjusted EBITDA down over 60% Y/Y. Analysts from BMO Capital Markets and Oppenheimer have lowered their price targets and future estimates for the company due to volatility in lithium prices and concerns over capital overspend. Despite this, ALB shares are trading higher by 2.93%.
November 07, 2023 | 7:31 pm
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Albemarle Corporation missed Q3 earnings and sales estimates, leading to lowered price targets and future estimates by analysts. Despite this, ALB shares are trading higher.
Albemarle Corporation's Q3 earnings miss and lowered future estimates by analysts due to lithium price volatility and capital overspend concerns could negatively impact investor sentiment. However, the stock is currently trading higher, indicating a neutral short-term impact.
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