** Analysts at Citi cut earnings expectations across their coverage of Australian lithium companies
** Expect lithium prices to track sideways for the next 12-18 months
** Brokerage is bearish on the near-term outlook for the commodity
** Cuts price target on Pilbara Minerals by 20 Australian cents per share to A$4.50/share
** Cuts PT on IGO IGO.AX to A$13/share from A$15.50/share
** Citi cuts rating on core Lithium CXO.AX to 'sell' from 'neutral'
** Says demand for electric vehicles has disappointed the high expectations against a backdrop of higher supply
** Citi, however, remains bullish on the long-term outlook for lithium
** Pilbara Minerals PLS.AX and Allkem AKE.AX are Citi's sector picks; says AKE offers the best growth outlook
Good News & Bad News, page-34346
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$2.90 |
Change
0.020(0.69%) |
Mkt cap ! $8.732B | |||
| Open | High | Low | Value | Volume |
| $2.86 | $2.94 | $2.80 | $102.1M | 35.55M |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 314863 | $2.88 |
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|---|---|---|
| $2.91 | 20820 | 2 |
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