Alliance Global Partners Starts Atlas Lithium Corp. (ATLX) at Buy

Alliance Global Partners initiates coverage on Atlas Lithium Corp. (NASDAQ: ATLX) with a Buy rating and a price target of $50.00.

The analyst comments "We are initiating coverage of Atlas Lithium with a Buy rating and $50.00 price target. We view Atlas as an emerging lithium producer with a cornerstone hard-rock lithium project in the heart of Mina Gerais, Brazil, which we believe is quickly becoming a hotbed of lithium exploration success. Given that the company's flagship project is at a pre-resource stage, we expect various value-unlocking activities to occur over the next year including the establishment of an initial resource estimate, Preliminary Economic Assessment (PEA), and the advancement of permitting activities. As such, we believe Atlas is at the early stages of the miners' value creation curve and believe shares are in line for a re-rating over the next year as the Minas Gerais Lithium Project (MGLP) is de-risked."

For an analyst ratings summary and ratings history on Atlas Lithium Corp. click here. For more ratings news on Atlas Lithium Corp. click here.

Shares of Atlas Lithium Corp. closed at $18.56 yesterday.

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