PMT Broker Data, page-91

Macquarie's preferred lithium picks

Macquarie remains bullish as ever on the lithium and rare earth space. The investment bank has 13 stocks under its coverage and only one stock isn't Outperform rated.

In the larger cap space, Macquarie said Mineral Resources (ASX: MIN) and Pilbara Minerals (ASX: PLS) are its preferred producers.

From a value perspective, the analysts see value in both Allkem (ASX: AKE) and Liontown Resources (ASX: LTR).

Allkem offers a "unique exposure to both lithium brine in South America and spodumene production in Australia." While Liontown's "Kathleen Valley construction will de-risk the project and provide valuation support [for the stock]."

Towards the small cap and explorer end of town, Macquarie noted Patriot Battery Metals (ASX: PMT) and Global Lithium (ASX: GL1) as its key picks.

Ticker	Company	Mkt Cap	Price	Target
MIN	Mineral Resources	$16,767m	$88.35	$126.00
PLS	Pilbara Minerals	$14,390m	$4.80	$7.50
AKE	Allkem	$8,302m	$13.02	$20.00
LTR	Liontown Resources	$3,448m	$1.57	$2.60
CXO	Core Lithium	$2,118m	$1.15	$1.30
PMT	Patriot Battery Metals	$1,564m	$1.41	$1.75
GL1	Global Lithium Resources	$553m	$2.15	$4.20