Analysts Are Bullish on These Materials Stocks: Allkem Limited (OROCF), Talga Group Ltd. (TLGRF)

There’s a lot to be optimistic about in the Materials sector as 3 analysts just weighed in on Allkem Limited (OROCF – Research Report), Talga Group Ltd. (TLGRF – Research Report) and Develop Global Limited (VTEXF – Research Report) with bullish sentiments.

Allkem Limited (OROCF)

In a report issued on May 12, Hugo Nicolaci from Goldman Sachs maintained a Buy rating on Allkem Limited, with a price target of A$15.40. The company’s shares closed last Tuesday at $9.80.

According to TipRanks.com, Nicolaci is a 3-star analyst with an average return of 7.9% and a 87.5% success rate. Nicolaci covers the Basic Materials sector, focusing on stocks such as Pilbara Minerals Limited, Core Lithium Ltd, and IGO.

Currently, the analyst consensus on Allkem Limited is a Strong Buy with an average price target of $10.60, implying a 6.6% upside from current levels. In a report issued on May 5, Canaccord Genuity also maintained a Buy rating on the stock with a A$19.50 price target.

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Talga Group Ltd. (TLGRF)

Bell Potter analyst Regan Burrows maintained a Buy rating on Talga Group Ltd. today and set a price target of A$2.50. The company’s shares closed last Tuesday at $0.90.

According to TipRanks.com, Burrows is a 3-star analyst with an average return of 4.9% and a 39.1% success rate. Burrows covers the Basic Materials sector, focusing on stocks such as Arafura Resources Limited, Lynas Rare Earths Limited, and Boss Energy Limited.

Talga Group Ltd. has an analyst consensus of Moderate Buy, with a price target consensus of $1.68.

Develop Global Limited (VTEXF)

Canaccord Genuity analyst Tim McCormack maintained a Buy rating on Develop Global Limited on May 12 and set a price target of A$5.00. The company’s shares closed last Tuesday at $0.73.

According to TipRanks.com, McCormack is a 4-star analyst with an average return of 6.9% and a 46.6% success rate. McCormack covers the Basic Materials sector, focusing on stocks such as Silver Lake Resources Limited, Northern Star Resources Ltd, and Panoramic Resources Limited.

Develop Global Limited has an analyst consensus of Moderate Buy, with a price target consensus of $3.35.

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