Canaccord analyst Katie Lachapelle upgraded Lithium Argentina (LAAC) to Buy from Speculative Buy with a price target of C$20, down from C$54, following the recent completion of its previously announced separation of its U.S.-based and Argentina-based operations. Lithium Americas (LAC) and Lithium Argentina (LAAC) commenced trading as separate entities on both the TSX and NYSE on October 4, notes the firm, which offers updated views and estimates for both companies. The firm expects Lithium Argentina shares to re-rate over the next 12-months as Cauchari-Olaroz transitions to steady state production and the development plans for the Pastos Grande basin become clearer.
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