2337 GMT - A new long-duration energy storage target set by Australia's most populous state helps keep Shaw & Partners analysts bullish on battery metals miner Australian Vanadium. The New South Wales state government has introduced legislation to add an additional 12GWh of long-duration storage by 2034, on top of its existing 2030 target of 16GWh. With the last of the state's four coal-powered generators scheduled to close around 2034, the announcement adds to what the analysts call a battery bonanza. They add in a note to clients that mining giant Rio Tinto recently said that vanadium-flow batteries will be crucial to Australia's renewables sector. Shaw & Partners keep a buy rating and A$0.08 target price on the stock, which is flat at A$0.014. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 14, 2024 18:37 ET (23:37 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。