Attracted to Pilbara Minerals as lithium demand rise, says Jefferies

Lithium

26/10/2022 24:14

** Analysts at Jefferies says they are attracted to Pilbara
Minerals as lithium demand continues to grow
    ** Lithium co Pilbara is "one of the few spodumene producers
with uncontracted volumes," says Jefferies
    ** Brokerage raises PT to A$5.15 from A$4.75, reiterates
"hold" 
    ** Jefferies sees closing December cash and receivables
balance of over A$2.2 billion ($1.40 billion) for Pilbara
    ** Three of 10 analysts rate the stock "buy" or higher, four
"hold" and three "sell"; their median PT is A$4 – Refinitiv data
    ** Stock up ~67.5% this year, as of last close
($1 = 1.5686 Australian dollars)
 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))