Australia's Pilbara Minerals falls after Morgans downgrades to 'sell'

Pls

28/10/2025 04:42

** Shares of lithium miner Pilbara Minerals PLS.AX fall as much as 7.9% to A$3.02, their lowest level since October 23

** Stock logs biggest intraday pct fall since October 1

** Morgans downgrades stock to "sell" from "hold"; hikes target price to A$2.8 from A$2.3 to reflect upbeat quarterly production

** Brokerage says stock's recent rally appears sentiment-driven following firmer lithium prices and the Australia-US critical minerals partnership, near-term benefits remain limited at this stage

** Says policy developments are likely to drive volatility; despite minor price recovery, current price levels remain insufficient for robust cash generations

** Stock up 40.6% YTD

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))