Albemarle Earnings: Shares Rally on Lithium Price Outlook

Albemarle (ALB) reported strong second-quarter results driven by higher lithium prices, leading to a 8% rally in shares. Morningstar maintains its $200 fair value estimate, viewing the stock as significantly undervalued due to Albemarle's low-cost lithium operations and the expectation of continued strong profits. The company is expected to benefit from rising long-term lithium demand despite market concerns about potential oversupply.