With the lithium industry back in favour with investors, some readers might be interested to know which ASX lithium shares brokers are recommending as buys.
Five that have recently been given the thumbs up are listed below. Here's why they could be buys:
Allkem Ltd (ASX: AKE)
Bell Potter believes there's still plenty of value in this lithium miner's shares despite a recent surge. It has a buy rating and $19.20 price target on them. This suggests upside of 31% from the current Allkem share price of $14.66.
Core Lithium Ltd (ASX: CXO)
While most brokers are bearish on this lithium miner, Macquarie remains positive and has an outperform rating and $1.30 price target on its shares. Based on the current Core Lithium share price of $1.02, this implies potential upside of 27% for investors.
Liontown Resources Ltd (ASX: LTR)
Macquarie is also positive on this ASX lithium share. Earlier this month, the broker retained its outperform rating on the lithium developer's shares with a $3.00 price target. This suggests potential upside of 11.1% for investors over the next 12 months from current levels.
Mineral Resources Ltd (ASX: MIN)
Morgans is a big fan of this mining and mining services company largely due to its lithium operations. The broker has an add rating and $103.00 price target on its shares. This is 48% higher than the current Mineral Resources share price of $69.82.
Pilbara Minerals Ltd (ASX: PLS)
A third ASX lithium share that Macquarie is bullish on is Pilbara Minerals. The broker has an outperform rating and $7.70 price target on its shares. Based on the latest Pilbara Minerals share price of $4.54, this implies upside of almost 70% for investors.
