Here are the top outperformers on the S&P 500 this week, and where analysts see them going forward.
Wall Street is on pace for another week of losses — but certain names managed to outperform. As of Friday afternoon, the S & P 500 and the Dow Jones Industrial Average were on track for their second week in the red. The broad market index dropped 0.9% during the week, while the Dow fell 1.6%. The Nasdaq Composite had also lost 0.2%. The downward movement comes as investors' concerns on the health of the banking sector and U.S. economy were reignited.
6% above analysts' consensus price target. Shares of chemical manufacturer Albemarle popped 10.6% this week after being upgraded by KeyBanc and Bank of America . KeyBanc cited improving demand for lithium in China for its upgrade and said shares currently sit at an attractive valuation. More than half of analysts covering Albemarle rate it a buy, according to FactSet data. The average analyst price target implies shares could rally 30.3%. Shares are down 9.7% year to date.
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