The Core Lithium Ltd (ASX: CXO) share price is back on form at last.
In morning trade, the lithium miner's shares are up over 4% to $1.46.
This will be a welcome relief to shareholders which have watched Core Lithium's shares record declines during the last five sessions.
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Why is the Core Lithium share price rising?
Investors have been buying the company's shares today despite there being no news out of it.
Though, it is worth noting that the Core Lithium share price isn't the only one in the lithium industry that is rising today.
Here's a quick summary of how other ASX lithium shares are performing:
- Allkem Ltd (ASX: AKE) shares are up 3%
- Lake Resources N.L. (ASX: LKE) shares are up 3%
- Liontown Resources Ltd (ASX: LTR) shares are up 4.5%
- Pilbara Minerals Ltd (ASX: PLS) shares are up 2%
Can Core Lithium shares keep rising?
While analysts at Macquarie currently only have a neutral rating on the company's shares, their price target of $1.80 is notably higher than where they trade today.
In fact, based on where Core Lithium's shares trade today, this price target implies potential upside of 23% for investors over the next 12 months. Not bad for a neutral rating!
