Wall Street Reassesses Lithium... Market Cap Soars by $16 Billion in a Day

Albemarle Corp. (NYSE: ALB) closed at $172.54 on the New York Stock Exchange on the 21st, up 5.83%—approximately ₩220,000. Its market capitalization swelled to about $20.3 billion (₩26.4 trillion), an intraday increase of roughly $1.26 billion (₩1.6 trillion).

On the same day, HSBC upgraded Albemarle’s recommendation from Hold to Buy and raised its price target sharply from $117 to $200, citing a revival in lithium prices to around $18,000 per metric ton and suggesting further upside potential. In quick succession, Robert W. Baird, Deutsche Bank and Scotiabank also issued Buy ratings with price targets in the $185–$210 range, betting on a tightening of lithium supply driven by growing demand for energy storage and data centers.

Headquartered in North Carolina, Albemarle is the world’s largest lithium producer, operating mines in the U.S., Australia and Chile and supplying lithium to electric-vehicle battery makers and grid-scale energy-storage firms. Although its earnings were squeezed and its share price hit bottom amid a steep decline in lithium prices in 2023–2024, the company has rebounded strongly—its stock is up more than 200% from last April’s low—on the back of cost reductions, a recovery in demand and a recent uptick in lithium prices, reestablishing Albemarle as a leading beneficiary of the next lithium cycle.