In fact, with lithium demand rising faster than expected, what we’re beginning to see is the potential for long delays in production. Worse, there’s no telling how long EV auto makers will have to deal with inadequate supply, which could send lithium prices even higher.
That being the case, another hot lithium stock you may want to consider is Livent Corporation (LTHM). If LTHM can break above double top resistance around $27, it could see $30 near-term. Analysts love the stock, too. Cowen for example just raised its target to $25 from $19.
According to TheFly.com, “Cowen analyst David Deckelbaum raised the firm’s price target on Livent to $25 from $19 and keeps an Outperform rating on the shares. The analyst said constructive western policy and near-term supply limits are driving lithium and rare earths pricing higher. Given moves toward incentive pricing he has seen a number of new supply initiatives announced but still anticipates a relatively tight market into mid-2025.”