Lithium Americas price target raised to $40 from $39 at B. Riley

B. Riley analyst Matthew Key raised the firm’s price target on Lithium Americas to $40 from $39 and keeps a Buy rating on the shares following announcement of a positive ruling for the Thacker Pass Project in Nevada. The U.S. District Court of Nevada ruled largely in favor of Lithium Americas by declining to vacate the Record of Decision, the analyst tells investors in a research note. With the ROD intact, the company believes it has satisfied the necessary requirements to begin development of the core mining areas at Thacker Pass, says the firm.