BMO Capital Markets on Wednesday resumed coverage of Lithium Americas (LAC.TO, LAC) with a market-perform rating on its shares and a US$3.50 price.
"Following a lengthy period of restriction predating the LAC/LAAC split, we resume coverage of LAC at Market Perform with a US$3.50 target price. With DOE/GM funding and clear support essentially lined up with Thacker Pass (Nevada clay-based lithium feedstock mine with co-located carbonate conversion) now organized into a 62%/38% LAC/GM JV equity ownership, Thacker can continue to progress to hopefully a key part of a future N.American EV supply chain. We are neutral on LAC, however, considering valuation and risk/reward (uncertainties around commodity prices, ultimate capital budget/timelines, processing/opex risks, etc.)," analyst Joel Jackson wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 4.36, Change: -0.22, Percent Change: -4.80
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