Lithium Argentina initiated with a Buy at Stifel

Stifel initiated coverage of Lithium Argentina (LAAC) with a Buy rating and $18.50 price target. Lithium Argentina, one of two independent companies formed by the separation of legacy Lithium Americas, retains its Latin American business comprising its key assets in Argentina’s Puna region, which is “quickly emerging as a major future centre of global lithium production,” the analyst tells investors. Growth comes via a consolidated Pastos Grandes/Sal de la Puna operation that the firm believes could add about 35kt in annual LCE output, the analyst added.