5 Best Lithium Stocks To Buy Now

2. Albemarle Corporation (NYSE:ALB)

Number of Hedge Fund Holders: 41

Albemarle Corporation (NYSE:ALB) engages in the development, manufacturing, and marketing of engineered specialty chemicals. The company’s Lithium segment offers different lithium compounds used in applications such as lithium batteries for consumer electronics and electric vehicles, high-performance greases, thermoplastic elastomers, rubber soles, plastic bottles, catalysts for chemical reactions, and organic synthesis processes. Albemarle Corporation (NYSE:ALB) is one of the best lithium stocks to invest in. 

On May 18, UBS analyst John Roberts upgraded Albemarle Corporation (NYSE:ALB) to Buy from Neutral with a $255 price target, up from $196, citing the current shift in China’s lithium pricing and the adjustment in 2023 earnings. The analyst believes there is a growing sense of optimism regarding the company.

According to Insider Monkey’s first quarter database, 41 hedge funds were bullish on Albemarle Corporation (NYSE:ALB), compared to 46 funds in the last quarter. 

Carillon Tower Advisors made the following comment about Albemarle Corporation (NYSE:ALB) in its Q4 2022 investor letter:

“Albemarle Corporation (NYSE:ALB) is a global specialty chemicals company with leading positions in lithium, bromine, and refining catalysts. The stock gave back some of its recent gains amid investor concerns about how the future price of lithium could be affected by a potential decelerating rate of growth in overall electric vehicle (EV) production and demand, primarily in China. Despite these potential near-term headwinds, longer-term the global lithium market remains tight, and Albemarle plays a critical role in the battery value chain and remains well-positioned for the overall continued global adoption of EVs.”

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