Scotiabank raised the firm’s price target on Arcadium Lithium (ALTM) to $5.85 from $4 and keeps an Outperform rating on the shares. Rio Tinto (RIO) has firmed up its acquisition offer of $5.85 per share for Arcadium Lithium, representing a premium of more than 100% on the unaffected share price, the analyst tells investors. Rio intends to “improve and accelerate ALTM’s pipeline” and both parties believe accelerating volume growth is appropriate, the firm adds.
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Read More on ALTM:
- Arcadium Lithium price target raised to $5.85 from $4 at BMO Capital
- Arcadium Lithium price target raised to $5.85 from $4.30 at Mizuho
- Arcadium Lithium downgraded to Market Perform from Strong Buy at Raymond James
- Arcadium Lithium downgraded to Hold from Buy at HSBC
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