Banter and General Comments, page-7388

A bit more on MS thoughts on Li:

DJ Lithium Miners Likable Despite Price Struggles -- Market Talk
0118 GMT - Morgan Stanley sours on lithium prices over the long run but thinks there might still be reasons to bet on companies which dig up the battery metal. It thinks Australia's Mineral Resources is a good value after a flat year-to-date stock performance at a time some miners have surged. It's been bullish on that company "despite our commodity deck being fairly bearish on lithium carbonate." Shares trade 3 times the coming FY's projected Ebitda and 5.5 times the anticipated figure for FY21. Morgan Stanley adds that Galaxy Resources and Orocobre, while less appealing, could also offer some modest upside for investors. ([email protected]; @RhiannonHoyle)
(END) Dow Jones Newswires
June 24, 2019 21:18 ET (01:18 GMT)