UPDATE: Morgan Stanley Starts Li-Cycle Holdings Corp. (LICY) at Overweight

Morgan Stanley analyst Adam Jonas initiates coverage on Li-Cycle Holdings Corp. (NYSE: LICY) with a Overweight rating and a price target of $15.00.

The analyst comments "Through its Spokeand-Hub model, Li-Cycle aims to not only address the growing issue of end-of-life disposal of lithium-ion batteries, but to create a closed-loop supply chain for critical battery materials. With its ability to process any battery regardless of chemistry, form factor, or size, we think Li-Cycle is well positioned to benefit from the mega trend of EV adoption through an ESG friendly process at a time when a domestic supply of strategic battery materials is increasingly under focus. EV battery recycling is likely to be a very large market with recurring revenues and significant government/policy support given the environmental externalities and national security implications of mining/material sourcing. While there are risks related to scaling and competition (including from OEMs, mining companies, etc.) we find Li-Cycle's value proposition compelling."

For an analyst ratings summary and ratings history on Li-Cycle Holdings Corp. click here. For more ratings news on Li-Cycle Holdings Corp. click here.

Shares of Li-Cycle Holdings Corp. closed at $8.00 yesterday.

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