UBS analyst Jon Windham downgraded Li-Cycle to Neutral from Buy with a price target of 75c, down from $9. The firm says the company is seeking strategic alternatives to fund the construction at the Rochester hub. It downgrades the shares to reflect the heightened uncertainty around project viability and near-term funding. Li-Cycle’s ability to secure adequate project funding and a revised project timeline are potential upside catalysts, the analyst tells investors in a research note.
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Read More on LICY:
- Li-Cycle reports Q3 EPS (73c), consensus (24c)
- Li-Cycle engages Moelis to evaluate financing, strategic alternatives
- Li-Cycle adopts limited duration shareholder rights plan
- Li-Cycle cut to Market Perform at TD Cowen on lack of financing visibility
- Li-Cycle downgraded to Market Perform from Outperform at TD Cowen
