Lithium Americas initiated with an Outperform at Scotiabank

Scotiabank initiated coverage of Lithium Americas with an Outperform rating and $20 price target. The analyst says Lithium Americas “is well on its way to becoming the world’s newest lithium major, as it progresses the construction of its flagship Thacker Pass project in the United States.” The firm says the stock offers investors exposure to the largest lithium resource in the U.S., and is led by a seasoned management team with a proven track record of developing lithium projects through to first production.