LTR is a relative minnow on the ASX with a market cap of $3.4bn, this is a name we haven’t really discussed previously but we like it around $1.50 from a risk / reward perspective. The company recently entered a lithium supply agreement with US EV car maker Tesla (TSLA US) which is a definite tick for the business moving forward – the initial 5-year agreement which was described as ‘binding’, although reading the detail suggests otherwise, kicks off in 2024 and we believe it should put a floor under the share price.
MM likes LTR around $1.50
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