FROM MOTLEY FOOL 6 SEPT 2022.......NOTE: CONSENSUS PRICE TARGET...

FROM MOTLEY FOOL 6 SEPT 2022.......NOTE: CONSENSUS PRICE TARGET $2.56 REFINITIV EIKON DATA...........What’s up with the Lake Resources share price?Investors have rallied Lake shares today in unison with the broader sector, as materials shares catch another heavy bid. Lake Resources shares have bounced from lows and are now heading back to range levels, having slipped from previous highs of $1.59 on 11 August. There’s been nothing price-sensitive out of Lake’s camp this past month that correlates to the volatility in pricing seen on the chart. Noteworthy, however, is a bullish note out of JP Morgan on its outlook on the future of the lithium industry. Citing asymmetries in supply and demand, the broker revised its forecasts for lithium carbonate and spodumene prices by 20% and 25% respectively. The note provided a bullish undercurrent for speculators and those positioned for the long-term in lithium, with the ASX lithium basket subsequently rallying to date. If one recalls the calamity that a bearish note from Goldman Sachs on the lithium industry’s outlookcaused in June – if this were to happen in reverse, lithium shares could rally further. To that point, it appears that Goldman may be seeking to revise its call from earlier in the year, which estimated a large erosion in the price of lithium by FY23. Also, four out of four brokers rate Lake shares a buy right now, with a consensus price target of $2.56, according to Refinitiv Eikon data.Despite its recent volatility, the Lake Resources share price is still up 109% for the past 12 months.