BMO Capital resumed coverage of Lithium Americas (LAC) with a Market Perform rating and $3.50 price target following a period of restriction. The company is “on the cusp” of building then operating largest U.S. lithium operation, supported by General Motors (GM) and the Department of Energy, the analyst tells investors in a research note. The firm, however, is neutral on the stock’s valuation and risk/reward, citing uncertainties around commodity prices as well as ultimate capital budget and timelines.
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Read More on LAC:
- Lithium Americas price target lowered to $2.50 from $3 at Scotiabank
- Unusually active option classes on open October 17th
- Lithium Americas upgraded to Outperform from Sector Perform at National Bank
- Stifel positive on Lithium Americas, General Motors JV agreement
- Lithium Americas rises 20.4%
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