Lithium Americas initiated with a Neutral at Piper Sandler

Piper Sandler analyst Charles Neivert initiated coverage of Lithium Americas with a Neutral rating and $3.90 price target following the separation from its Argentina-based operation now known as Lithium Americas Argentina. Piper says Lithium Americas is the only lithium company it covers which does not carry an Underweight rating. This is largely due to the company’s lithium production not ramping until 2028 and funding for the initial phase of production being largely in place through a Department of Energy loan and an additional contribution from General Motors, the analyst tells investors in a research note.