Albemarle rises as Jefferies raises PT, citing higher EV demand

Shares of lithium miner Albemarle ALB.N up 4.3% at $130.58 premarket

Jefferies raises price target to $152 from $124, representing a premium of 21.4% to the stock's last close

Brokerage sees a "fragile equilibrium" in lithium through 2026–29, followed by a shift to meaningful deficits in the early 2030s

Adds that if interest rates fall and unlock delayed electric vehicle (EV) and storage demand, lithium demand could surprise to the upside, tightening the market and pushing lithium carbonate prices back up to levels

Nine of 27 brokerages rate the stock "buy" or higher, 16 "hold" and two "sell"; median PT is $110 - data compiled by LSEG

As of last close, ALB up 45.4% YTD