‘Too early to sell’ Pilbara Minerals, says Citi
Alex Gluyas
Citi says it’s too early to sell Pilbara Minerals based on the broker’s expectation that lithium prices will remain elevated through the first half of the year.
“We expect demand to remain strong amid mild supply growth over the next six months, resulting in pricing staying higher for longer through the first half of 2022,” said Kate McCutcheon, vice president of metals and mining at Citi.
Amid this backdrop, Citi said it remain a neutral and high-risk rating on Pilbara Minerals, and lifted its price target on the company from $2.50 to $3.60.
Pilbara’s share price was up 2.8 per cent to $3.62 in afternoon trading.
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$3.02 |
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Mkt cap ! $9.090B | |||
| Open | High | Low | Value | Volume |
| $3.01 | $3.04 | $2.96 | $59.25M | 19.70M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 40915 | $3.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.02 | 318781 | 14 |
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