Lithium Americas price target lowered to $2.50 from $3 at Scotiabank

Scotiabank lowered the firm’s price target on Lithium Americas (LAC) to $2.50 from $3 and keeps a Sector Perform rating on the shares. While the company’s joint venture scheme with General Motors (GM) is “positive news,” the firm notes there is still a funding gap that needs to be met by the company, which will require another raise, the analyst tells investors. The firm believes an equity raise is likely coming down the pipeline soon and that the amount will be more than the $100M expected by the company.