3/17/2010- Bank of America Merrill Lynch is raising their price target for Albemarle Corp. (NYSE:ALB) to $48, up from $42, and raising 2010, 2011, and 2012 EPS estimates on strength in bromine and brominated flame retardants within the company's Polymer Solutions segment.
The bank sees 2010 EPS of $2.70, up from $2.55, 2011 EPS of $3.10, up from $2.85, and 2012 EPS of $3.35, up from $3.09.
Analysts Kevin W. McCarthy said, "We expect Albemarle's Catalysts segment to benefit from a sequential increase of 10-15% in hydroprocessing catalyst (HPC) volume in 1Q. In Fine Chemistry Services (FCS), our read is that pharma and Ag orders are likewise lackluster. So, we are trimming our segment profit forecast, which offsets partially higher expected profit in Polymer Solutions. ALB remains a top pick."
Keywords: albemarle corp bank of america merrill lynch
Ticker(s): ALB
