BUZZ-Albemarle gains after Q1 profit exceeds expectations

Albemarle Corporation

Albemarle Corporation

ALB

0.00

May 7 (Reuters) - ** Albemarle shares ALB.N jump 11.3% to $214.70 after Q1 profit beats estimates
** The world's largest lithium producer posts profit of $2.95 per share, excluding one-time items vs analyst expectations of $1.09 - LSEG data

** Prices of metal have been at over two-year highs on demand for electric vehicle and energy storage sector; CEO says lithium consumption up 37% this year
** 13 of the 25 analysts covering the stock have a "buy" or higher rating, 12 have "hold"; median PT is $210 rupees - LSEG data
** Up to Wednesday's close, stock has risen 36.2% so far this year


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