Arcadium Lithium initiated with a Buy at Citi

Citi analyst Kate McCutcheon initiated coverage of Arcadium Lithium with a Buy rating and A$10.75 price target. Arcadium provides the only fully integrated lithium exposure on the Australian exchange to the lithium product suite, the analyst tells investors in a research note. The firm says Arcadium’s upstream portfolio and growth outlook “is a standout amongst peers.” Arcadium is well positioned to benefit from its leading market position, low-cost chemicals production, and diversification of its portfolio which is increasingly weighted to western battery supply chains, says Citi.