0103 GMT - Liontown doesn't think the market's consensus estimate on its cash position is right, Citi analyst Kate McCutcheon says. Consensus has cash at June-end around A$100 million--Citi's estimate is roughly A$120 million, or A$140 million at spot prices--with Liontown "noting they hold a different view," McCutcheon says. Liontown remains highly leveraged to lithium prices, says McCutcheon. Liontown reckons spot lithium prices below US$900/metric ton are unsustainable, she notes. "Can't argue with optimism?" she says. Citi has a neutral rating and A$0.60 target on Liontown. The stock is up 6.2% at A$0.685. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
March 16, 2025 21:03 ET (01:03 GMT)
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