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UBS lowered its rating on Albemarle to neutral from buy, slashing its price target by more than 40%. Analyst Matthew Hedberg initiated coverage of the data stock at an outperform rating with a $22 target price for shares. Hedberg's price target implies shares could climb 23.9% over the next year from Friday's close. In addition to the downgrade, analyst Jessica Reif Ehrlich slashed her price target on the stock to $9 from $32. Analyst Joshua Spector downgraded the stock to neutral from buy and slashed his price target to $140 from $253.

Persons: Ferrari, Matthew Hedberg, Hedberg, Alex Harring, Jason Bazinet, Bazinet, — Alex Harring, Jefferies, Brent Thill, Thill, Jessica Reif Ehrlich, Reif, Vivek Arya, Arya, Nicholas Campanella, Campanella, " Campanella, Banks, Goldman Sachs, Citi's Paul Lejuez, Baird, Mark Altschwager, Morgan Stanley, Edouard Aubin, Aubin, there's, Henning Cosman, Cosman, Joshua Spector, Spector Organizations: CNBC, UBS, Barclays, Bank of America, Nvidia, RBC, RBC Capital Markets, Citi, Disney, Jefferies, Paramount, Paramount Global, Dominion Energy, Dominion, Wall, JPMorgan, Ferrari, U.S, UBS downgrades Locations: Albemarle, Friday's, China, Birkenstock

Sealed Air has had a rough few weeks, with the stock down nearly 24% since the start of August. But the average price target implies shares could rally more than 31%, offering another reason to believe a bounce is on the horizon. Slightly more than half of analysts rate the stock a buy, with an average price target implying an upside of nearly 14%. Here's the full list: On the other hand, Charter Communications was the most overbought stock with an RSI of 81.57. The average price target implies shares could gain another 13.5% over the next year.

Persons: Joshua Spector, Morgan Stanley, downgrades, Wolfe, Peter Supino, Amgen, Michael Bloom Organizations: UBS, Investor, Fitch, Communications, Dow Jones Locations: U.S

☆ UBS sees a big gain for this chemical stock as lithium prices in China stabilize
▼ + stars: | 2023-05-18 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

It's time to buy shares of Albemarle as lithium prices in China stabilize, according to UBS. "We see the current inflection in China lithium pricing and 2023 earnings reset leading to increasingly positive sentiment on the stock. Inflection of lithium prices and battery production in China is setting a much higher floor vs prior cycles," analyst Joshua Spector wrote. Now that lithium prices are finding a floor, Albemarle will be able to grow volumes as well as EBITDA, UBS said. Risks may also already be priced in to Albemarle stock, Spector added, specifically the expectation of lithium prices remaining at roughly $20 per kilogram.

Now is the time to buy shares of Sealed Air , according to UBS. He maintained his price target of $59 per share, suggesting a 28.8% rally for the stock from Tuesday's close price. Shares have tumbled 30% during the past 12 months, as the company struggled with supply chain issues, a post-pandemic demand reset and industrial destocking. Roughly three-fifths of analysts covering Sealed Air rate it a hold, Refinitiv data shows. The average price target on shares, however, implies 24.5% upside over the next 12 months.

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