Lithium Americas price target lowered to $3 from $5.50 at Scotiabank

Scotiabank lowered the firm’s price target on Lithium Americas (LAC) to $3 from $5.50 and keeps a Sector Perform rating on the shares. The firm is cutting its price target on the stock due to a lower lithium price deck, with additional downside risk depending on the dilution effects from General Motors’ (GM) second tranche of securities, the analyst tells investors.