Lithium miners: MinRes, Pilbara and Piedmonth see PT hikes by Macquarie

Pls

13/03/2025 22:48

** Analysts at Macquarie lift price targets on Australia's major lithium miners, including Mineral Resources MIN.AX, Pilbara Minerals PLS.AX and Piedmont Lithium PLL.O, PLL.AX

** Increases PT on MIN by 8% to A$39 with short to medium-term spodumene price increase expectations, which would help the highly leveraged stock to deleverage at a faster pace

** Raises PT on PLS by 9% to A$2.40, owing to estimation of higher spodumene prices

** Lifts PT on PLL by 19% to A$0.25

** Brokerage says demand growth for spodumene is set to be dominated by electric vehicles and industrial battery growth

** Increases price outlook by 9% in CY25 to $886/ton CIF China for spodumene

** Macquarie expects a market deficit in spodumene to emerge in 2029, requiring inducement pricing to balance the market

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com;))