Wedbush initiated coverage of Lithium Americas (LAC) with a Neutral rating and $5 price target Lithium Americas Corp is a pure-play North American lithium company focused on the development of lithium projects in North and South America, which is crucial for the growing demand in electric vehicle batteries and renewable energy storage, the analyst tells investors in a research note. The firm believes the company is taking a key position in the future of the domestic lithium market. However, it starts the shares at Neutral as Lithium Americas ramps production over the coming years.
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