Looming recession fears are causing headaches for companies and threatening corporate profits. Nevertheless, analyst expect certain stocks currently trading at cheap valuations to grow earnings this year. Companies are nervously eyeing how far the Federal Reserve will go as it continues to hike interest rates, with concerns that tighter monetary policy may tip the economy into a recessionary period.
The stock has a forward P/E ratio of 9, and the company's earnings are expected to jump by 30.3%. The company owns the only lithium plant operating in the U.S. The stock fell more than 7% in 2022, notching its first annual decline in three years. Albemarle shares doubled in 2020 and popped another 58% in 2021. Analysts at Deutsche Bank recently added a catalyst call buy on the stock ahead of a corporate strategy update slated for Tuesday .