2237 GMT - Investors are likely to give IGO more time to turn around the Kwinana battery grade lithium hydroxide refinery it runs with China's Tianqi under the TLEA joint venture, Citi says. But FY 2025 will be a key year to show it can generate earnings in the long run, analyst Kate McCutcheon adds in a note. "Until then, Kwinana remains an overhang on the TLEA cash sweep," she says. Kwinana owes TLEA hundreds of millions of dollars in lost Ebitda and improvement capex since 3Q of FY 2022, says McCutcheon. IGO recently said it expects to realize the benefits of an October shutdown for maintenance and improvement works in March. "Time will tell," McCutcheon says. Citi keeps a neutral rating. Its target on IGO goes to A$5.40 from A$5.30. IGO ended Friday at A$4.94. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
January 12, 2025 17:37 ET (22:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。