It isn't only the Pilbara Minerals Ltd (ASX: PLS) share price that is climbing notably higher in the lithium industry on Tuesday, the Orocobre Limited (ASX: ORE) share price is also one of the best performers on the market today.
At the time of writing the lithium miner's shares are up 6% to $6.75. This stretches Orocobre's 12-month return to approximately 75%.
Why are Orocobre's shares pushing higher today?
Whilst there has been no news out of Orocobre today, it was the subject of a positive broker note out of Citi on Monday which could be the catalyst for this gain.
That note revealed that Citi's analysts have upgraded Orocobre's shares to a buy rating from neutral. Furthermore, the broker has increased the price target on its shares to $8.00 from $7.70.
This price target implies potential upside of 18.5% for its shares even after taking into account today's strong gain.
Whilst this is a tempting proposition, it is worth remembering that lithium miners like Orocobre and Pilbara Minerals are high up on the risk scale and potentially unsuitable for many investors.
