Following 1Q results for Pilbara Minerals, Morgans still sees strong long-term value and retains an Add rating, but investors may have to endure ongoing lithium price volatility.

Faster-than-expected price falls for spodumene, along with production interruptions from brownfields expansion, resulted in a significant miss on revenue for the quarter against the broker's forecast.

The target falls to $5.00 from $5.10.

Sector: Materials.

Target price is $5.00.Current Price is $3.86. Difference: $1.14 - (brackets indicate current price is over target). If PLS meets the Morgans target it will return approximately 23% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2023 Acquisdata Pty Ltd., source FN Arena