Macquarie Updated GXY to Neutral, page-8

From my notes 12/2/2017,

• Maintain Underperform. GXY’s successful redesign and recommissioning of Mt Cattlin is a significant achievement. We still expect a large amount of new supply to be delivered over the near term. Whether longer-term demand conditions are strong enough to incentivise the construction of Sal de Vida remains to be seen.

So Mac have gone up from underperform to neutral.
Note other brokers targets
Canaccord: 22 Jan, target 80c.”
Hartley’s: 17 Fe,b Our base case (assuming value for all three assets) is 64cps. Our spot price valuation (using US$850/t for 5.5% Li2O) is 85cps.
Bell Potter: 3 Jan, Target $0.71