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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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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.