Australian ASX 200 dips as lithium sell‑off hits market, brokers upgrade six shares

The S&P/ASX 200 fell 0.39% to 8,714.5 on Friday, driven by a sharp decline in lithium‑related stocks and a stronger U.S. dollar after new Federal Reserve chair Kevin Warsh signaled a tighter monetary stance. Lithium names slid as Chinese lithium carbonate futures dropped, while the Bloomberg Dollar Spot Index rose over 2%.

At the same time, brokerages lifted ratings on six Australian companies. Jarden upgraded Flight Centre (ASX: FLT) to a buy with a $15.90 target, suggesting about 30% upside. Macquarie raised Karoon Energy (ASX: KAR) to hold with a $1.50 target (≈18% upside). Canaccord Genuity upgraded Iluka Resources (ASX: ILU) to buy, moving its 12‑month target to $8.45 (≈20% upside). Ord Minnett lifted Baby Bunting (ASX: BBN) to buy with a $2.30 target (≈60% upside). Citi upgraded Collins Foods (ASX: CKF) to buy, cutting its target to $10.30 (≈26% upside). Jefferies moved Sims (ASX: SGM) to hold with a $31 target (≈10% upside).

Core Lithium announced a restructure, planning to spin out its non‑lithium assets into a new ASX‑listed company, Axiant Resources, aiming to raise $8‑10 million. The move isolates its Finniss Lithium Project from other holdings.