New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 24, 2013
10:26 EDTALBAlbermarle falls after analysts slash ratings
Chemicals maker Albemarle (ALB) is retreating after multiple research firms downgraded the stock in notes to investors earlier today. JPMorgan downgraded the stock to Neutral from Overweight. The firm believes that the company's earnings per share are likely to decline in the first half of 2013, and it noted that the company's stocks has risen 19% since mid-September, beating the overall market by a wide margin. However, JPMorgan increased its price target on the shares to $67 from $62. Meanwhile, Citigroup analyst P.J. Juvekar downgraded Albemarle to Neutral from Buy. Albemarle's electronics business faces challenges due to weak LCD TV demand and a potential further shift away from PCs, Juvekar believes. Both TVs and PCs use Albemarle's flame retardants, but tablets don't use them, the analyst explained. Moreover, many of Albemarle's refinery customers will have shutdowns in the first half of 2013, and the company's share of profits from a joint venture in Japan is slated to drop to 60% from 70% this year, added Juvekar, who lowered his target on the stock to $71 from $74. Deutsche Bank and Macquarie also lowered their ratings on the stock this morning. Yesterday morning, Albermarle stated that it expected its performance in the first half of 2013 to be weaker than in either half of 2012. In mid-morning trading, Albemarle fell $1.52, or 2.35%, to $63.15.
News For ALB From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 9, 2015
09:59 EDTALBOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
06:25 EDTALBAlbemarle upgraded to Conviction Buy from Buy at Goldman
Subscribe for More Information
October 2, 2015
12:15 EDTALBAlbemarle updates on incident at SunEdison Pasadena facility
Subscribe for More Information
11:49 EDTALBAlbemarle says Texas incident occurred at SunEdison facility
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use