Eye on Lithium: Which lithium stocks are your top picks?

More than half of the global resources are located in the so-called lithium triangle between Argentina, Bolivia and Chile. Much of the remaining supply comes from deposits of an igneous rock called spodumene, with Australia the biggest miner.

Pilbara, the largest ASX-listed lithium player, on Tuesday night revealed that it had secured a price of $US5955 a dry metric tonne for a cargo of spodumene with 5.5 per cent lithia. Analysts turn more bullish on lithium after Pilbara's record deal has reinforced analysts' bullish lithium predictions.

But which lithium shares could be in the buy zone?

Analysts at Morgans have named $Allkem Ltd (AKE.AU)$ their top pick in the lithium industry. Morgans has an add rating and $14.83 price target on its shares. They expect electric vehicle demand to remain strong with geopolitical events and a potentially tight oil market accelerating the shift towards electrification.

Another lithium stock to look at is $Mineral Resources Ltd (MIN.AU)$. Goldman Sachs is very bullish on Mineral Resources and currently has a buy rating and $73.80 price target on the company's shares. It is the company behind the massive Wodgina operation, which is one of the largest known hard rock lithium deposits in the world with a production life of over 30 years. It also has the Mt Marion Lithium Project and exposure to iron ore.

Mooers, which lithium stocks are your top picks ?