Lithium Americas Corp. (LAC) PT Raised to $39 at Jefferies

Jefferies analyst Laurence Alexander raised the price target on Lithium Americas Corp. (NYSE: LAC) to $39.00 (from $34.00) while maintaining a Buy rating following results.

The analyst commented, "Production at Caucharí-Olaroz remains on track to begin by mid-2022 while a Phase I feasibility study recently raised Thacker Pass's lithium carbonate target to 40,000 tpy from 30,000-35,000 tpy. Lithium prices continue to spike on tight supply/demand balances, with dynamics likely remaining tight into at least 2023. We expect LAC shares to continue to benefit from a rotation into smaller cap companies levered to ESG theme and favorable industry newsflow."

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