** Morgan Stanley upgrades rating on lithium miner Albemarle ALB.N to "equal-weight" from "under-weight"; raises PT to $147 from $58

** The new PT represents a 11.1% premium on stock's last close

** Brokerage expects demand for lithium to rise by 15% in 2026 as it now bases demand on Energy Storage Systems $(ESS)$ shipments rather than installations

** "We neutralize our Underweight following an ESS shipment-driven lithium price rally in the last few months that has seen lithium prices more than double from their 2025 down cycle lows" - Morgan Stanley

** However, brokerage adds that ALB cash flow forecasts are

not improving year-over-year

** Nine of 27 brokerages rate "buy" or higher, 17 "hold" and one "sell"; median PT is $110- data compiled by LSEG

** As of last close, ALB ~54% YTD

(Reporting by Dharna Bafna in Bengaluru)

((Dharna.bafna@thomsonreuters.com))