NEW YORK (TheStreet) -- Investors are seeking equity bargains as global markets continue to recoup losses from the U.K. referendum to leave the European Union.
Believing that "the market got a little ahead of itself to the downside," Robert Pavlik of Boston Private Wealth Market Strategy sees specialty chemicals developer and manufacturer Albemarle (ALB) - Get Reportas an under-the-radar opportunity.
"The stock pulled back from the recent high, growing at [a] really tremendous rate and what they focus in on is making lithium and lithium goes into batteries," Pavlik said on CNBC's "Squawk on the Street" today.
Pavlik finds added value in Albemarle because of its background in the lithium for electric vehicle batteries. The potential autonomous vehicle boom may coincide with a boom in electric vehicles as a "first move" in the next generation of car technology.
"Some big wire houses out there are saying the electric vehicle market, [which] is about 3% of the overall market right now, [is] going to grow to 25% in the next 14 years," Pavlik noted.
As a cheap stock with big potential, Pavlik believes that "Albemarle is the stock for you" if cars are going to be running on batteries in the future.
Additionally, Pavlik believes the overall trend in the U.S. is going "back to a normalized market." Pavlik noted several things as having to change before the markets will gain momentum.
"The dollar is still up, treasury yields are still low, gold is still high, the euro is still weak ... I think they will [change] but it's going to take time," Pavlik added.
Shares of Albemarle are up by 0.52% to $79.53 on Thursday afternoon.
Separately, TheStreet Ratings team rates Albemarle as a "buy" with a ratings score of A.
This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that TheStreet Ratings team rates. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, TheStreet Ratings feels they are unlikely to have a significant impact on results.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: ALB