Jefferies analyst Laurence Alexander lowered the firm’s price target on Lithium Americas (LAC) to $7 from $8 and keeps a Buy rating on the shares after Reuters reported that the $2.3B loan from the Department of Energy is being re-evaluated and the government is seeking as much as 10% equity stake after Lithium Americas offered warrants in exchange for changing the loan amortization schedule. Lithium Americas commented to the press that it would provide an update at the appropriate time and that discussion with the DOE and General Motors (GM) are ongoing, the firm noted.
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