Lithium Americas resumed with a Market Perform at BMO Capital

BMO Capital resumed coverage of Lithium Americas (LAC) with a Market Perform rating and $3.50 price target following a period of restriction. The company is “on the cusp” of building then operating largest U.S. lithium operation, supported by General Motors (GM) and the Department of Energy, the analyst tells investors in a research note. The firm, however, is neutral on the stock’s valuation and risk/reward, citing uncertainties around commodity prices as well as ultimate capital budget and timelines.