NEW YORK (TheStreet) -- Albemarle Corp. (ALB - Get Report)  price target was raised to $72 from $62 at Keybanc on Thursday morning. The firm also reiterated its "overweight" rating.

The Baton Rouge, LA-based company is a developer, manufacturer and marketer of specialty chemicals across a range of end markets, such as petroleum refining, consumer electronics and plastics.

"We sense the company has solid momentum in a variety areas (integration, Lithium, catalyst pricing, de-leveraging etc.), which should build investor confidence that it can continue to consistently meet or beat expectations," Keybanc wrote in a note.

The firm sees lithium as a primary earnings driver for the company, with exponential growth potential over the next few years, prompted by strong demand for battery grade lithium from several markets including consumer devices, transportation and renewable energy.

Additionally, with one of the higher-quality portfolios in the chemical sector, Keybanc sees a good case for multiple expansion.

Shares of Albemarle are gaining 0.94% to $65.63 at the start of trading on Thursday.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.

The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income.

The team believes its strengths outweigh the fact that the company has had somewhat disappointing return on equity.

Recently, 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