10 High Growth Lithium Stocks to Invest In

3. Albemarle Corporation (NYSE:ALB)

5-Year Revenue CAGR: 16.90%

Average Price Target Upside: 2.91%

Number of Hedge Fund Holders: 32 

Albemarle Corporation (NYSE:ALB) is a leading American specialty chemicals company, operating in three segments, lithium, bromine specialties, and catalysts. It plays a significant role in the global lithium market, especially for EV batteries, and is also advancing flame retardant technologies and catalysts for petroleum refining.

The company serves diverse industries such as energy, automotive, electronics, and pharmaceuticals, as it offers products like lithium carbonate and lithium hydroxide for cathode applications, along with innovative solutions like ultra-thin lithium metal anodes and lithium sulfide for improved energy density and safety.

Despite challenges in the lithium market, Albemarle (NYSE:ALB) is focused on increasing its production capacity. It plans to double lithium carbonate production to 10,000 tons per year by 2025 and is developing the Kings Mountain mine in North Carolina to supply domestic lithium. Partnerships with major automakers like Ford and BMW further reinforce its position in the EV industry, with long-term agreements to supply battery-grade lithium hydroxide.

As reported by TipRanks on October 10, DBS is quite optimistic about the company’s potential in the expanding EV and energy storage markets. The firm’s analyst Tina Ting Hu reaffirmed a Buy rating on Albemarle (NYSE:ALB) with a price target of $100. Despite recent declines in net income and sales forecasts, Hu believes the growing demand for lithium, driven by increasing EV adoption, supportive government policies, and technological advancements, will drive its growth.

The company’s upcoming lithium projects are expected to contribute to a 20% compound annual growth rate in sales through 2027. Hu also highlighted Albemarle’s (NYSE:ALB) tolling business expansion, which should boost its ability to meet rising energy storage demand, alongside potential margin improvements despite current challenges.