Lithium Americas initiated with a Buy at Stifel

Stifel initiated coverage of Lithium Americas (LAC) with a Buy rating and $15 price target. The spin-out of the legacy Lithium Americas’ North American business is focused on developing the Thacker Pass Project in Nevada, which has the potential to reach 80ktpa Lithium Carbonate Equivalent, or LCE, capacity by 2030, the analyst tells investors. The “new LAC” offers investors “a made-in-America lithium vehicle” that is poised to supply domestically-sourced raw material to the emerging electric vehicle supply hub currently being onshored, the analyst tells investors.