Albemarle (ALB) Shares Surge 7.2%: Can the Momentum Continue?

Albemarle (ALB) shares closed 7.2% higher at $70.22, with increased trading volume. Jefferies analyst slightly lowered price target to $84 while maintaining a “Buy” rating. Expected to post quarterly loss of $0.80 per share, -2100% YoY change, with revenues expected at $1.21 billion, down 15.5% from last year.

Earnings estimate revisions show correlation with stock price movements. ALB consensus EPS estimate revised 1.1% lower over last 30 days. Negative trend in revisions may impact price appreciation. ALB carries Zacks Rank #3 (Hold). Akzo Nobel NV (AKZOY) from same industry closed 1.5% higher at $23.81, with a Zacks Rank of #2 (Buy).

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Read more at Nasdaq: Strength Seen in Albemarle (ALB): Can Its 7.2% Jump Turn into More Strength?