** Analysts at Morningstar see a rebound in lithium prices after a solid quarter at IGO's Greenbushes mine in a challenging market
** Brokerage says as electric vehicle adoption increases, we expect high-double-digit annual growth in global lithium demand
** Sees cost advantages for lithium miner IGO at its Greenbushes mine
** IGO, however, posted a quarterly loss, swinging from a profit in the last quarter, as a slowdown in EV battery demand wiped out profits from its lithium operations
** IGO’s balance sheet is in excellent shape, with no debt and a cash position of A$468 mln ($307.99 mln) as at June 30 - Morningstar
** Brokerage expects IGO will continue to accumulate cash to fund future acquisitions or organic growth opportunities
** Stock has fallen 40.9% this year, as of last close
($1 = 1.5195 Australian dollars)
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.