Jefferies Comments on Albemarle In Anticipation of Higher Derivatives Pricing

Jefferies has published a research report on Albemarle ALB In the report, Jefferies wrote, "If bromine derivatives prices continue moving higher, as suggested by the latest price increase on Saytex HP-900 (~10% of BFRs, or 1.2%-4.0% of total sales), it would mark a significant divergence from the "back to 2008" fears pressuring Albemarle's share price. We view the announcement (and potential $0.07-$0.23 EPS tailwind) as an incremental positive for the shares, but expect investors to focus on volumes as the litmus test." Jefferies rated Albemarle a BUY with a price target of $75.00. Albemarle closed Wednesday at $48.48.