#3 - Albemarle (NYSE:ALB)
Albemarle Corporation (NYSE: ALB) presents investors with considerable share price growth opportunities. Analysts tracked by MarketBeat give the stock a 16% upside from its current level. The company’s current P/E ratio of above 18x makes the stock a little expensive. However, the forward P/E of 9.3x would make ALB stock undervalued.
One of the company’s many business units focuses on developing, manufacturing, and marketing lithium compounds. Lithium will be in high demand in the coming years. One reason for that is its use in the lithium-ion batteries that are the current standard for electric vehicles (EVs).
Albemarle has exceeded one billion in revenue in the first three quarters of the year, including its most recent quarter, in which it eclipsed the $2 billion mark for the first time. Earnings per share (EPS) is projected to grow at an average rate of 46% for the next five years.
And while the dividend has a modest 0.64% yield at this time, Albemarle is a dividend aristocrat, having increased its dividend in each of the last 28 years.
About Albemarle
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.
Read More - Current Price
- $88.65
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 15 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $115.74 (30.6% Upside)
