Lithium Americas price target lowered to $36 from $38 at Piper Sandler

Piper Sandler analyst Charles Neivert lowered the firm’s price target on Lithium Americas to $36 from $38 and keeps an Overweight rating on the shares. As a result of the high electric vehicle costs and a slight easing in the near-term lithium demand growth rate, the analyst modestly reduced earnings estimates for the company. However, the new target still reflects considerable upside for the shares since Lithium "will essentially be sold out for the foreseeable future," Neivert tells investors in a research note.