National Bank Financial on Thursday reiterated its outperform rating Lithium Americas (LAC.TO, LAC) while raising its price target to C$7.50 from C$7.25 after the company released a new resource estimate for its Thacker Pass project.

"We have now updated our model with the new estimates provided. A summary of our revised assumptions can be found in Figure 1. Our overall NAV increased from largely unchanged from C$7.55/sh to C$8.11/sh driven by a 66% increase in the Thacker Pass NPV10% offset by our reduction of the exploration upside given the longer mine life of 85 years now modelled. As a result, we increase our price target from $7.25 to $7.50 and reiterate our Outperform rating. The focus for LAC remains the completion of the final funding requirement per our model of $170 mln, the final investment decision expected in the coming months and the smooth advancement of major construction," analyst Mohamed Sidibe 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: 4.69, Change: -0.02, Percent Change: -0.42