Brokerages raise Albemarle PT on higher energy storage systems demand

Brokerage RBC Capital Markets and Citigroup raise price targets on lithium miner Albemarle ALB.N

RBC raises PT to $150 from $100; an 11.3% upside to the stock's last close

Citigroup raises PT to $150 from $100; also an 11.3% upside to the stock's last close

Shares of the lithium miner rose 1% to $135.70 premarket

RBC favors ALB on continued energy storage systems (ESS) demand growth

"Lithium markets have stood out as demand growth into ESS could mean global supply/demand becomes balanced sooner than investors previously thought, partly driving the recent lithium price rally" - RBC

Citigroup sees potential for more balanced-to-tight supply in 2026 and to frame a constructive guidance given higher conviction into improved lithium prices supported by demand growth, particularly in ESS

"We also think the company's prudent cost and productivity actions could further improve operating leverage and FCF visibility" - Citigroup

Up to last close, ALB up 56.4% YTD