Berenberg raises PT on Albemarle

Berenberg raises lithium miner Albemarle ALB.N price target to $135 from $75

However, new PT represents a 7.6% downside to the stock's last close

Brokerage says there is enough lithium supply growth to fully cater for the incremental demand; adds the last leg of price strengthening in late 2025 took lithium carbonate equivalent price to $16,000/tonne and spodumene to $14,000/tonne

"By the end of 2026, lithium levels will be consistent with current levels, limiting further progress to Albemarle's share price," Berenberg says

"We think that, adjusting for normalised lithium prices and growth, Albemarle should trade at a single-digit multiple, in line with other miners or commodity chemicals producers" - brokerage

Nine of 27 brokerages rate stock "buy" or higher, 17 "hold" and 1 "sell"; median PT is $125 - data compiled by LSEG

In 2025, stock was up 64.3%