** Jarden cuts rating of Liontown Resources LTR.AX to "Underweight" from "Neutral" but raises PT to A$0.50 from A$0.48
** LTR is currently on trading halt pending an announcement on capital raise
** Jarden says Lithium prices need to rise by ~50% for LTR to reach cash breakeven, before debt principal repayment
** Decreases FY25 EBITDA outlook by 22% to A$80.7 mln
** Expects slower underground growth but sees upside in plant recovery rates - Jarden
** The battery minerals producer on Thursday announced A$266 mln($173.57 mln) fully-underwritten placement at an issue price of A$0.73 per share
** Australian government will invest A$50 mln in co to support operations and transition to underground mining at Kathleen Valley project
** As of last close, YTD stock up 61%
($1 = 1.5326 Australian dollars)
(Reporting by Keshav Singh Chundawat in Bengaluru)
((Keshav.SinghChundawat@thomsonreuters.com;))
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