** Analysts at Morningstar see a rebound in lithium prices after a solid quarter at IGO's Greenbushes mine in a challenging market

** Brokerage says as electric vehicle adoption increases, we expect high-double-digit annual growth in global lithium demand

** Sees cost advantages for lithium miner IGO at its Greenbushes mine

** IGO, however, posted a quarterly loss, swinging from a profit in the last quarter, as a slowdown in EV battery demand wiped out profits from its lithium operations

** IGO’s balance sheet is in excellent shape, with no debt and a cash position of A$468 mln ($307.99 mln) as at June 30 - Morningstar

** Brokerage expects IGO will continue to accumulate cash to fund future acquisitions or organic growth opportunities

** Stock has fallen 40.9% this year, as of last close

($1 = 1.5195 Australian dollars)

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com;))