Buy
$Albemarle(ALB)$. Albemarle is a leading producer of lithium (42% of net sales), bromine (35%) and refining catalysts (23%).
The company is targeting significant growth, about 3x 2021 adj. EBITDA in five years (by 2026), mostly from the EV boom. Energy storage is expected to be >85% of Albemarle Lithium revenues by 2026.
By 2025, annual demand for lithium will to rise to 1.5 million metric tons of lithium carbonate equivalent - up from about 500,000 metric tons used in 2021. ALB will benefit from increased demand, both in volume and in lithium prices.
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