Morgans highlights largely stable lithium prices since the end of September 2024, noting current spot prices are higher than those achieved at that time, despite lithium equities being sold off.

Pilbara Minerals remains the broker's key pick in the lithium space, offering both short-term and long-term value.

The Add rating and $3.25 target are unchanged.

Sector: Materials.

Target price is $3.25.Current Price is $2.20. Difference: $1.05 - (brackets indicate current price is over target). If PLS meets the Morgans target it will return approximately 32% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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