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Lithium Americas price target adjusted to $13 at Evercore ISI post-spin

Evercore ISI adjusted the firm’s price target on Lithium Americas (LAC) to $13 from $35 and keeps an Outperform rating on the shares as the firm is rolling coverage to LAC standalone “newco” following the “long anticipated separation” of the company’s North American and Argentina assets with the spinoff of Lithium Argentina (LAAC). The firm’s view on Thacker Pass remains unchanged, calling it “a large scale resource with a derisked offtake partner” in General Motors (GM) that has “rapidly cleared hurdles towards development.”

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