Courtesy of Benzinga.
Sterne Agee has published a research report on Albemarle Corporation (NYSE: ALB) after DuPont (NYSE: DD) lowered its FY2011 earnings outlook this morning.
In the report, Sterne Agee writes, “ALB sells brominated flame retardants into polymers that are sold into the consumer electronics and construction end markets (among others), so we believe investors may take this as a negative for ALB’s 4Q results. We would note, however, that on the company’s 3Q2011 earnings call, ALB’s management highlighted some conservatism around this area for 4Q, and we baked some conservatism into our numbers. What is unclear to us at this point is whether what DD is seeing is an incrementally greater softening than ALB has already highlighted and we already assumed. Until we are able to assess that, our numbers remain unchanged.”
Sterne Agee maintains its Buy rating on Albemarle, which closed yesterday at $53.08.
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