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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Read More on LAC:
- Lithium Americas Closes Separation to Create Two Leading Lithium Companies
- Lithium Americas up 7% after report on DOE $1B loan talks
- DOE in talks to lend Lithium Americas $1B for Thacker Pass mine, Bloomberg says
- U.S. considering ‘record’ $1B loan for Lithium Americas mine, Bloomberg says
- Lithium Americas Announces Details for Completion of Separation
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