Arcadium Lithium price target raised to $5.85 from $4 at BMO Capital

BMO Capital raised the firm’s price target on Arcadium Lithium (ALTM) to $5.85 from $4 and keeps a Market Perform rating on the shares after the company entered into a definitive agreement under which Rio Tinto (RIO) will acquire Arcadium in an all-cash transaction for $5.85 per share. Arcadium continues its slow ramp of multiple assets with the ramp dragging on longer than expected, but perhaps Rio can improve the dynamic over the longer term, the analyst tells investors in a research note.