UPDATE: Deutsche Bank Upgrades Lithium Americas Corp. (LAC) to Buy
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Deutsche Bank analyst Corinne Blanchard upgraded Lithium Americas Corp. (NYSE: LAC) from Hold to Buy with a price target of $34.00 (from $31.00).
The analyst commented, "We are upgrading our rating on Lithium Americas (LAC) shares to Buy from Hold, and increasing our PT to $34/sh, from $31/sh. This note should be read in conjunction with our LITHIUM 2022 Outlook report, released concurrently with this note. We are upgrading Lithium Americas to BUY from Hold, and increasing our PT to $34/sh from $31, driven by: (1) Lithium market fundamentals further tightening, with Lithium producers well positioned to benefit from a favorable pricing environment (2) Upcoming production expected to start mid-year at the Cauchari-Olaroz asset (JV with Ganfeng Lithium)"
Shares of Lithium Americas Corp. closed at $27.84 yesterday.
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