American Battery initiated with an Outperform at Northland

Northland initiated coverage of American Battery with an Outperform rating and $6 price target. By preprocessing inputs in various ways to “high-grade” them before chemically-intensive hydromet processes, American Battery improves the economics and lowers environmental impacts of recycling and primary resource development, says the firm, which contends that there are “multiple sources of value not reflected in the current price.”