Piedmont Lithium price target lowered to $8.25 from $13 at Roth MKM

Roth MKM lowered the firm’s price target on Piedmont Lithium (PLL) to $8.25 from $13 and keeps a Neutral rating on the shares. The company’s Q4 results were uneventful, though weak lithium market conditions continue to put pressure on lithium equities, the analyst tells investors in a research note. Despite record EV sales, the lithium market clearly remains oversupplied resulting in weak lithium prices across the board, Roth adds.