Alb stock forecast commentary highlights that major

ALB stock forecast commentary highlights that major investment banks have adjusted their outlooks, lowering price targets slightly to reflect current lithium market softness while maintaining a long-term growth thesis. Even though lithium prices dropped in 2023 after reaching record highs in 2022, the long-term outlook for the EV market remains promising. According to the report, EV sales are expected to reach 30.81 million units by 2027, and lithium prices are expected to stabilize between $20,000 and $25,000 per metric ton in the coming years. Despite the industry's cyclical nature, current pricing remains strong enough to attract investment, especially with regulatory support driving the EV transition in countries like Canada. ALB is showing a cup and handle formation on the daily chart. Price is now testing the $84–$87 resistance zone which aligns with the long-term descending trendline. A confirmed breakout above this level could trigger a bullish continuation, with a measured move target near $115 (+41%). 📈 Entry: On ALB stock forecast projections for late 2024 lean toward moderate appreciation if sector sentiment improves and Albemarle’s operational expansions deliver targeted output increases.