Morgan Stanley Raises ALB PT To $67

Morgan Stanley has issued a report in which the Price Target of Albemarle Corp. ALB is raised from $65.00 to $67.00. According to the report, "We continue to see good growth for Albemarle, with both bromine (and derivatives) and catalysts set to deliver volume gains and margin expansion in the coming years. At the May 3 analyst day, we expect management to lay out a strategy to get to EPS of >$6/ share in 2014 (14% EPS CAGR), which would not include share repurchases that could add another ~$0.80." ALB is rated Overweight and closed at $58.45 yesterday.