PLS Gets New Bull as Share Price Nears 12-Month Low
Dow Jones10-14 06:36
2230 GMT [Dow Jones]--PLS Group's share-price fall close to a 12-month low prompts Bell Potter to upgrade the stock to buy, from hold. "At current lithium market prices, PLS will generate substantial earnings and cash flow with the restart of the 200,000 tons per annum Ngungaju processing plant," analyst James Williamson says. PLS is also progressing development studies for two additional projects, known as P2000 and Colina. These are growth options for PLS without resorting to M&A in markets underpinned by strong underlying long-term demand, such as electric vehicles and battery storage. PLS ended Tuesday at A$3.08, down some 54% from its June high.
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