BUZZ-Albemarle jumps after UBS upgrades to 'buy'

Reuters12-06
BUZZ-Albemarle jumps after UBS upgrades to 'buy'

** Shares of chemical producer Albemarle ALB.N rise 6.60% to $127.03

** UBS upgrades shares of ALB to "buy" from "neutral," expecting lithium prices to rise as the market shifts into a supply deficit starting in the second half of 2026

** Brokerage also raised PT to $185 from $107, which is a 55.3% upside from its last close

** If U.S. designates lithium as strategic and sets a price floor, ALB could benefit via Kings Mountain resource and a two-tier pricing model, brokerage says

** 9 of 27 analysts rate the stock "buy" or "strong buy", 16 "hold", and 2 "sell" or "strong sell; median PT $110 - data compiled by LSEG

** As of Thursday's close, ALB up 38.4% YTD

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com;))

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