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PLS Group Shows 'Strong' Q3 Production, 'Resilient' Pricing Through 2026, Says Jefferies

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PLS Group (ASX:PLS) delivered a "strong" production quarter relative to Jefferies and market forecasts, with resilient lithium pricing through the current calendar year supporting a positive outlook, said Jefferies in a Friday note.

The company on Friday reported March quarter production of 232,400 tonnes and revenue of AU$567 million compared to 125,000 tonnes and revenue of AU$150 million a year ago.

The investment firm added that PLS maintains elastic production capability and a clearly defined growth pipeline.

The company's "soft" third quarter sales will be unwound into the fourth quarter's resilient price environment and maintain a constructive long-term view, supported by supply demand/dynamics and operational fundamentals, the note added.

Jefferies kept a buy rating on PLS and raised its price target to AU$6.70 from AU$6.

The company's shares rose 1% in recent Monday trade.

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