Citi says balance sheet of Australia's Core Lithium weakest across lithium coverage

Core Lithium

29/11/2023 19:20

** Citi says the balance sheet of Australia's Core Lithium
 CXO.AX  is the weakest across brokerage's lithium coverage 
    ** Brokerage downgrades co's rating to "sell", adds it
retains preference for other lithium producers Mineral Resources
 MIN.AX  and Pilbara Mineral  PLS.AX  which have a strong
balance sheet
    ** Citi reduces target price to 29 Australian cents from 38
Australian cents
    ** Two of 10 analysts rate the stock "buy" , two "hold" and
six "sell" or lower; their median PT is A$0.38 – LSEG data
    ** Stock has fallen 71.7% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))