4 big analyst picks: Albemarle scores fresh Overweight rating

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4 big analyst picks: Albemarle scores fresh Overweight rating

By Davit Kirakosyan

Investing.com -- Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades for Albemarle, Euronav, Arcturus Therapeutics, and Palo Alto Networks.

InvestingPro subscribers got this news first. Never miss another market-moving headline.

Albemarle shares gain on KeyBanc upgrade

KeyBanc upgraded Albemarle (NYSE: ALB ) to Overweight from Sector Weight with a price target of $270, as reported in real time on InvestingPro. The firm cited attractive valuation and improving risk-reward in lithium due to developments in China. As a result, shares gained more than 2% yesterday and are currently trading 1% higher in pre-market.

KeyBanc expects demand for lithium in China to improve after a downturn that started in November 2022, noting that its recent checks from the Li industry in China indicate that inventories at the battery cell/EV OEM level are declining, and could bottom out in the coming months.

Earlier this month, the company reported its Q1 results , beating EPS estimates while missing on revenues.

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Euronav upgraded to Buy after Q1 beat

Deutsche Bank upgraded Euronav (NYSE: EURN ) to Buy from Hold with a price target of $20.00, noting there are some short-term macroeconomic and demand headwinds that still overhang the segment, but the medium-term outlook remains generally positive based on very constrained net fleet growth in the coming years.

Share gained more than 5% yesterday after the company reported better-than-expected Q1 earnings.

According to Deutsche Bank, the company is well-positioned to take advantage of an improving market.

2 more analyst picks

H.C. Wainwright upgraded Arcturus Therapeutics (NASDAQ: ARCT ) to Buy from Neutral with a price target of $51.00, noting that the company is poised to transform into a commercial-stage company given the expected ARCT-154 approval in Japan as COVID-19 vaccine and booster in 2023.

Shares surged more than 10% yesterday.

CapitalOne initiated coverage on Palo Alto Networks (NASDAQ: PANW ) with an Overweight rating.

The company is set to report its Q3/23 earnings on May 23.

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