Albemarle (NYSE:ALB) Bromine Chain Should Continue to Tighten Says Jefferies (NYSE:JEF)

The bromine chain of Albemarle (NYSE:ALB) is expected to continue to tighten, which should help support price increases recently made by the company.

Jefferies noted, "the bromine chain should continue to tighten into the middle of the year, which should support extending the recent price increases in bromine downstream to the derivatives."

They are raising their EPS estimates for full year 2011 and full year 2012 to $4.10 and $4.50 from $4.00 and $4.35.

Jefferies maintains their "Buy" rating on Albemarle, which closed at $58.44, down $0.37, or 0.63 percent. Jefferies raised their price target on the company from $61 to $75.