Citi cuts PT across Aussie lithium miners on lower pricing

Core Lithium

10/10/2023 24:08

** Analysts at Citi cut earnings expectations across their
coverage of Australian lithium companies
    ** Expect lithium prices to track sideways for the next
12-18 months 
    ** Brokerage is bearish on the near-term outlook for the
commodity 
    ** Cuts price target on Pilbara Minerals by 20 Australian
cents per share to A$4.50/share
    ** Cuts PT on IGO  IGO.AX  to A$13/share from A$15.50/share
    ** Citi cuts rating on core Lithium  CXO.AX  to 'sell' from
'neutral' 
    ** Says demand for electric vehicles has disappointed the
high expectations against a backdrop of higher supply
    ** Citi, however, remains bullish on the long-term outlook
for lithium
    ** Pilbara Minerals  PLS.AX  and Allkem  AKE.AX  are Citi's
sector picks; says AKE offers the best growth outlook
    


 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))