Formation Minerals initiated with a Buy at Litchfield Hills

Litchfield Hills analyst Theodore O’Neill initiated coverage of Formation Minerals (FOMI) with a Buy rating and $2 price target The firm says Formation is an emerging mineral and royalty energy company. It believes the new administration will reduce or eliminate electric vehicle mandates, eliminating downward pressure on oil prices. Formation shares “appear to be priced significantly below absolute and comparative metrics,” the analyst tells investors in a research note.