Bell Potter and Citi upbeat on Australia's Liontown Resources' prospects, Macquarie cautious

Citi highlights lithium miner Liontown Resources' LTR.AX new capital allocation framework and intent to "screen for opportunities" amid market conditions, despite high leverage to lithium prices

Brokerage maintains a "neutral" rating with a target price (TP) unchanged at 60 Australian cents/share

However, brokerage Macquarie says co is "navigating challenging waters in a difficult lithium market and will have to prudently manage costs moving forward"

Brokerage Bell Potter says LTR having offtake contracts with top-tier EVs and battery original equipment makers helps them forecast that co is fully funded to free cash flow

Citi mentions LTR's proactive stance in looking for growth opportunities in the market, signaling potential prospects for expansion

Macquarie maintains "neutral" rating and A$0.65 target price; Bell Potter cuts TP to A$1.25 from A$1.40, reflecting reassessment of LTR's corporate costs

Stock currently trading 8.5% up at A$0.70

Stock has gained 33.3% this year, including day's moves

($1 = 1.5823 Australian dollars)