The Core Lithium Ltd (ASX: CXO) share price is having a decent session.
At one stage today, the lithium miner's shares were up 6% to 35 cents.
Its shares have now pulled back a touch but remain up 3% to 34 cents.
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Why is the Core Lithium share price rising?
Investors have been buying Core Lithium and other ASX lithium shares today despite there being no news out of the company.
However, it is worth noting that the industry has fallen heavily recently. So, this could mean that some investors believe that miners like Core Lithium have been oversold.
The team at Macquarie certainly appears to believe this is the case. Earlier this month, the broker reaffirmed its outperform rating with a 65 cents price target.
This implies a potential upside of approximately 90% for investors over the next 12 months.
Though, it is worth highlighting that Macquarie is a bit of an outlier with its extremely bullish view on lithium and Core Lithium shares.
For example, Citi, Goldman Sachs, and Morgans have the equivalent of neutral ratings on its shares with price targets of 38 cents, 42 cents, and 41 cents, respectively. This still implies more modest (but attractive) upside of 12% to 20% from current levels.
