American Battery price target lowered to $9 from $12 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on American Battery to $9 from $12 and keeps a Buy rating on the shares after the company announced Q2 results. The firm believes the company’s Tonopah Flats lithium facility is trending toward commercialization and expects the company to recognize revenue from battery recycling operations toward mid-year. Additionally, Alliance Global views the establishment of a positive Preliminary Economic Assessment at Tonopah Flats as a major de-risking event.