From todays Australian Financial Review (behind a pay wall):

JPMorgan’s metals and mining team have re-thought supply and demand for lithium and come to one conclusion: buy all the lithium miners.

The analysts put “overweight” ratings on all five ASX-listed lithium names under their coverage including IGO Ltd, Orocobre and its merger partner Galaxy Resources, Mineral Resources and Pilbara Minerals.

“The lithium commodity complex is one of the few remaining in our coverage where there is meaningful upside likely over the medium term, given the strong demand backdrop,” the analysts told clients.

JPMorgan reckons there will be 19 per cent a year increase in demand for lithium over the coming 10 years, on a compound annual growth rate basis, based on demand for electric vehicles and batteries.

That means supply will struggle to keep up, and the analysts said they would see a deficit beyond 2030.

“This means unknown, and lower economic returning projects will be required to fill the supply-demand gap,” the analysts said.