Jefferies Lifts Numbers On Albemarle (ALB)
Tweet
Share
E-mailGet Alerts ALB Hot Sheet
Price: $49.82 -0.46%
Rating Summary:
5 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
5 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
Jefferies raised their price target and estiamtes on Albemarle (NYSE: ALB) after strong Q1 results.
The price target goes from $75 to $77. FY11 EPS goes from $4.00 to $4.55 and FY12 EPS goes from $4.80 to $5.30.
The firm states, "Despite pressure from raw materials, Q1 beat by $0.19 and illustrated the earnings leverage from price increases across bromine derivatives and mineral flame retardants. We are raising 2011E $0.55 to $4.55, 2012E $0.50 to $5.30, and our price target $2 to $77. We expect management to sketch aggressive 2015 targets at its May 3 analyst day."
For more ratings news on Albemarle click here and for the rating history of Albemarle click here.
Shares of Albemarle closed at $64.87 yesterday.
The price target goes from $75 to $77. FY11 EPS goes from $4.00 to $4.55 and FY12 EPS goes from $4.80 to $5.30.
The firm states, "Despite pressure from raw materials, Q1 beat by $0.19 and illustrated the earnings leverage from price increases across bromine derivatives and mineral flame retardants. We are raising 2011E $0.55 to $4.55, 2012E $0.50 to $5.30, and our price target $2 to $77. We expect management to sketch aggressive 2015 targets at its May 3 analyst day."
For more ratings news on Albemarle click here and for the rating history of Albemarle click here.
Shares of Albemarle closed at $64.87 yesterday.
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Jefferies & Co, Raising Prices, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
