April Price Target Hikes: These 3 Stocks Have Analysts Excited
Navigate the stock market's challenges by targeting stocks with price target hikes
6d ago · By Muslim Farooque, InvestorPlace Contributor
April Price Target Hikes: These 3 Stocks Have Analysts Excited | InvestorPlace
- Invest confidently during uncertain times by zeroing in on stocks with price target hikes, signaling strong fundamentals and growth prospects.
- Arcadium Lithium (ALTM): Despite the headwinds, Arcadium projects growth with sales potentially reaching $1.9 billion and EBITDA up to $1 billion, underscoring its strong fundamentals.
Arcadium Lithium (ALTM)
Source: Lightboxx/ShutterStock.com
Arcadium Lithium (NYSE:ALTM), emerging from the merger of Allkem and Livent, is a leading lithium player. It stands out as a juggernaut in its niche, combining Livent’s advanced processing technologies and Allkem’s robust growth pipeline.
- Previous Rating: ‘Buy’
- New Rating: ‘Strong Buy’
However, ALTM stock is down over 30% since the start of the year, with lithium prices tanking. Nevertheless, its financials project a story of resilience and growth. Revenue shot up to $882.5 million in 2023 from $813.2 million last year. Moreover, net income increased to $330.1 million, considerably higher than last year’s $273.5 million.
ALMT is setting the stage for substantial long-term growth as we advance, targeting a 40% jump in lithium hydroxide and carbonate production. Furthermore, its financial projections are optimistic, with anticipated sales between $1,250 million and $1,900 million and adjusted EBITDA ranging from $420 million to $1 billion, depending on lithium market prices. Despite the positives, ALTM stock trades under four times trailing twelve-month (TTM) non-GAAP earnings, 75% lower than the sector median.
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Last
$7.07 |
Change
0.120(1.73%) |
Mkt cap ! $2.744B |
Open | High | Low | Value | Volume |
$7.04 | $7.14 | $7.04 | $12.74M | 1.800M |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 12091 | $7.06 |
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Price($) | Vol. | No. |
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$7.07 | 2489 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 10706 | 7.060 |
2 | 913 | 7.050 |
2 | 1276 | 7.040 |
1 | 1500 | 7.010 |
4 | 2240 | 7.000 |
Price($) | Vol. | No. |
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7.080 | 628 | 1 |
7.090 | 28709 | 6 |
7.100 | 24545 | 6 |
7.120 | 948 | 1 |
7.130 | 3203 | 2 |
Last trade - 16.10pm 14/05/2024 (20 minute delay) ? |
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Last
$7.08 |
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Change
0.120 ( 1.83 %) |
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Open | High | Low | Volume | ||
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Last updated 15.59pm 14/05/2024 ? |
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