Alliance Global Partners raised the firm’s price target on Atlas Lithium to $75 from $70 and keeps a Buy rating on the shares. The company announced a strategic offtake financing and provided a broader corporate update with respect to advancing the Neves lithium project toward first production, the analyst tells investors in a research note. The firm updated its model to reflect Atlas Lithium’s new phased development approach and shorter development timeline to first production while lowering its lithium concentrate price deck to reflect current market conditions.
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