Macquarie rates PLS as Outperform(1) -Macquarie expects regional lithium prices will follow the strong moves in prices in China and upgrades forecasts by up to 20% for 2021 and 2022.
The improved earnings outlook drives target increases for lithium miners and the broker retains a preference for Pilbara Minerals and Liontown Resources ((LTR)) over Orocobre ((ORE)).
The broker retains an Outperform rating and raises the target to $2.90 from $2.70.
Target price is $2.90
If PLS meets the Macquarie target it will return approximately 27% (excluding dividends, fees and charges).Current consensus price target is $2.20, suggesting upside of2.6%(ex-dividends)
The company's fiscal year ends in June.
R E S O L U T E.
The Spirit of Australian Lithium.
PLS - $2.83 by EOY21PLS – SYA – RNU –LTR
imo
* PLS - $2.83 - by 31 Dec 21. Updated *, page-336
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Last
$2.90 |
Change
0.160(5.84%) |
Mkt cap ! $8.731B | |||
| Open | High | Low | Value | Volume |
| $2.83 | $2.90 | $2.80 | $106.1M | 37.06M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 325534 | $2.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.90 | 158813 | 18 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| PLS (ASX) Chart |