BUZZ-Analysts see recovery for Australia's IGO despite soft first quarter

Reuters
Oct 31
BUZZ-Analysts see recovery for Australia's IGO despite soft first quarter  

** Analysts at Jefferies and Morningstar expect IGO IGO.AX to recover from the weak September-ended quarter the lithium producer reported a day ago

** Co on Thursday reported 6% sequentially lower spodumene production for the quarter, hit by weather conditions; group sales revenue also fell 17% compared to last quarter

** However, co kept FY production forecast unchanged

** Performance, while soft, did not demonstrate a material divergence from our long-term view of the asset quality or strategic direction of the co - Jefferies

** Analysts at Morningstar expect production to improve in second-half FY 2026 while keeping production and cost forecasts essentially intact

** 4 of 13 analysts rate the stock "buy", 6 "hold" and 3 "sell" or lower; their median PT is A$4.92 – according to data compiled by LSEG ** Stock up 15.9% YTD, as lot last close

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