Macquarie upgraded Sayona Mining (SYAXF) to Neutral from Underperform with a price target of A$0.04, up from A$0.02, after the company announced a 50/50 all-stock merger with Piedmont Lithium (PLL). The removal of an offtake agreement and the price cap is value accretive, which also paves way for further growth via brownfield expansion, the analyst tells investors in a research note.
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Read More on SYAXF:
- Sayona Mining Secures Funding Amid Merger Plans
- Piedmont Lithium’s $27M Boost Amid Sayona Merger
- Sayona Mining Plans Major Securities Issuance
- Sayona Mining to Issue 1.25 Billion Shares
- Sayona Mining and Piedmont Lithium Announce Merger
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
