Lithium Americas initiated with a Buy at PI Financial

PI Financial analyst Justin Stevens initiated coverage of Lithium Americas with a Buy rating and C$40 price target. Lithium Americas offers "an attractive opportunity" to invest in domestic U.S. production of battery-grade lithium chemical production and provides shareholders with exposure to near-term production from the large Cauchari-Olaroz project in Argentina along with "significant upside" from the development of Thacker Pass as the next U.S. source of domestic lithium chemicals for lithium-ion battery production, the analyst tells investors.