Given the steep drop in the share price today, we see more opportunity than we did when we published our initiation yesterday. We upgrade our rating to ADD.Is this a buying opportunity?
The team at Morgans believes that the weakness in the Pilbara Minerals share price was “a significant over-reaction” and has created a buying opportunity for investors.
As a result, just a day after initiating coverage on the lithium miner with a hold rating, it has upgraded its shares to a buy rating with a $4.70 price target. This implies potential upside of almost 17% for investors from current levels. It said:
Good News & Bad News, page-20276
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Last
$3.10 |
Change
0.050(1.64%) |
Mkt cap ! $9.335B | |||
| Open | High | Low | Value | Volume |
| $3.21 | $3.26 | $3.08 | $87.12M | 27.65M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 195050 | $3.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.12 | 1000 | 1 |
View Market Depth
| Last trade - 16.10pm 07/10/2024 (20 minute delay) ? |
| PLS (ASX) Chart |