April Price Target Hikes: These 3 Stocks Have Analysts Excited...

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

• 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.

April Price Target Hikes: These 3 Stocks Have Analysts Excited | InvestorPlace

Arcadium Lithium (ALTM)


Source: Lightboxx/ShutterStock.com

• Previous Rating: ‘Buy’
• New Rating: ‘Strong Buy’

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.
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.