the quality of analysis at some of these groups is quite astounding...spod price increase of 40%-60% over two years and price target of $4.60...figure that out ??????
Citi rates PLS as Downgrade to Sell from Neutral
-Pilbara Minerals' September-quarter trading update pleased Citi, lithium production outpacing peers and operational expenditure falling at the lower end of guidance. Management observes prices are rising across all chemicals and says customer inquiries remain extremely robust.Cash rose $784m on the June quarter to $1.4bn, excluding $132m in letter of credit and debt fell to $160m, leaving net cash of $1.2bn.
The company plans to announce a capital-management framework in December.
Citi predicts a sharp rise in spodume prices of 40% and 60% across FY23 and FY24.
The broker downgrades to Sell from Neutral given recent share-price strength. Target price rises to $4.60 from $3.60.
Good News & Bad News, page-17386
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$3.07 |
Change
-0.190(5.83%) |
Mkt cap ! $9.239B | |||
| Open | High | Low | Value | Volume |
| $3.19 | $3.20 | $3.07 | $96.53M | 30.85M |
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| No. | Vol. | Price($) |
|---|---|---|
| 41 | 815921 | $3.06 |
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| Price($) | Vol. | No. |
|---|---|---|
| $3.08 | 309816 | 3 |
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