Atlas Lithium price target lowered to $19 from $25.50 at Roth MKM

Roth MKM lowered the firm’s price target on Atlas Lithium (ATLX) to $19 from $25.50 and keeps a Buy rating on the shares. The company has announced its financial results for Q3 2024 and restated financial results for Q1 2024, Q2 2024, full year 2023, and full year 2022, and as a result of these restatements, it is prudent to increase the discount rate assumption in its discount cash-flow model as this event increases the risk profile of the company, the firm tells investors in a research note.