Shares of Lithium Americas Corp. (LAC) surged over 10% in pre-market trading on Wednesday, after National Bank upgraded the lithium producer's stock rating from Sector Perform to Outperform and raised its price target from CA$5.75 to CA$7.25.
The analyst upgrade follows Lithium Americas' strong financial results and positive outlook for lithium demand amid the global push for electric vehicles and renewable energy storage. National Bank analysts cited the company's strong fundamentals and growth prospects as reasons for the bullish outlook.
The pre-market rally in LAC stock reflects investors' optimism surrounding the lithium sector and Lithium Americas' position as a key player in the industry. The stock is now up over 30% year-to-date, outperforming the broader market.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.