  We report on the synthesis of LiCrTe$_2$ single crystals and on their
anisotropic magnetic properties. We have obtained these single crystals by
employing a Te/Li-flux synthesis method. We find LiCrTe$_2$ to crystallize in a
TlCdS$_2$ -type structure with cell parameters of $a$ = 3.9512(5) \r{A} and $c$
= 6.6196(7) \r{A} at $T$ = 175 K. The content of lithium in these crystals was
determined to be near stoichiometric by means of neutron diffraction. We find a
pronounced magnetic transition at $T^{\rm ab}_{\rm N}$ = 144 K and $T^{\rm
c}_{\rm N}$ = 148 K, respectively. These transition temperatures are
substantially higher than earlier reports on polycrystalline samples. We have
performed neutron powder diffraction measurements that reveal that the
long-range low-temperature magnetic structure of single crystalline LiCrTe$_2$
is an A-type antiferromagnetic (AFM) structure. Our DFT calculations are in
good agreement with these experimental observations. We find the system to be
easy axis with moments oriented along the $c$-direction experimentally as well
as in our calculations. Thereby, the magnetic Hamiltonian can be written as $H
= H_{\rm Heisenberg} + \sum_i K_c (S_i^z)^2$ with $K_c=-0.34K$ (where
$|S^z|=\frac{3}{2}$). We find LiCrTe$_2$ to be highly anisotropic, with a
pronounced metamagnetic transition for $H \perp ab$ with a critical field of
$\mu H_{MM}$(5 K) $\approx$ 2.5 T. Using detailed orientation-dependent
magnetization measurements, we have determined the magnetic phase diagram of
this material. Our findings suggest that LiCrTe$_2$ is a promising material for
exploring the interplay between crystal structure and magnetism, and could have
potential applications in spin-based 2D devices.
