Livent upgraded to Buy at Citi on tight lithium market fundamentals
- Livent (LTHM+6.1%) rises near its YTD high after Citi upgrades shares to Buy from Neutral with a $28 price target, bumped from $25, saying the company should benefit from improved pricing and planned capacity expansions in 2022 and 2023.
- Citi sees the lithium sector continuing to benefit from tight fundamentals, as demand is strong from electric vehicles and supply is struggling to keep pace, and anticipated tightness in the lithium market by the mid-2020s is not fully reflected in stock values.
- Analysts at Piper Sandler cited an upbeat outlook for the battery chemistry and materials sector when it recently initiated Livent with an Overweight rating.
Livent upgraded to Buy at Citi on tight lithium market...
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Last
13.0¢ |
Change
0.010(8.33%) |
Mkt cap ! $64.69M | |||
| Open | High | Low | Value | Volume |
| 12.0¢ | 13.0¢ | 12.0¢ | $252.6K | 2.012M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 385000 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 39886 | 2 |
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| GLN (ASX) Chart |