Ann: Quarterly Report - June 2018, page-147

With earnings season just around the corner and quarterly updates coming in thick and fast, brokers across Australia have been kept very busy this month.

Three shares that have found favour with brokers and been given buy ratings are listed below. Here’s why they are rated as buys:

Galaxy Resources Limited (ASX: GXY)

According to a note out of Citi, its analysts have retained their buy rating and $4.30 price target on this lithium miner’s shares following the release of its second-quarter update. Yesterday’s update was in-line with the broker’s expectations. Further, its analysts appear pleased to see that plant upgrades will lead to better volumes and grades in the fourth-quarter of FY 2018. I agree with Citi on this one and think yesterday’s update was a solid one. However, with future lithium prices tipped by some to decline, it does make it a high risk investment.

From mootly fool 3hrs ago