David Deckelbaum, an analyst from TD Cowen, maintained the Buy rating on Lithium Argentina. The associated price target was raised to $5.50.
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David Deckelbaum has given his Buy rating due to a combination of factors influencing Lithium Argentina’s prospects. Despite a slight underperformance in the third quarter due to deferred maintenance, the company is expected to benefit from reduced long-term costs. The joint venture with PPG has shown promising economic outcomes with industry-leading unit costs and significantly lower capital intensity, which bodes well for future profitability.
Additionally, while the company’s production was slightly below expectations, management has maintained a positive outlook, reaffirming their production guidance for the fiscal year 2025. The pricing environment has also improved, with current realized prices aligning with historical discounts. Furthermore, the scoping study for the Pozuelos-Pastos Grandes project indicates a phased production approach with a competitive capital expenditure profile, enhancing the company’s growth potential. These factors collectively support the Buy rating for Lithium Argentina’s stock.
According to TipRanks, Deckelbaum is a 3-star analyst with an average return of 3.6% and a 38.12% success rate. Deckelbaum covers the Energy sector, focusing on stocks such as Sable Offshore, APA, and Coterra Energy.