Li-Cycle price target raised to $8 from $7 at Baird

Baird raised the firm’s price target on Li-Cycle to $8 from $7 and keeps a Neutral rating on the shares. The analyst said the ramp of its US spokes continues on schedule, as does the buildout of the Rochester Hub which is expected to commission in late 2023 while noting the recent announcement of a $375M loan from the DOE is expected to close in Q223.