Roth MKM lowered the firm’s price target on Piedmont Lithium to $184 from $190 but keeps a Buy rating on the shares. The firm is updating its model after the company announced it would exercise its option to acquire a 22.5% stake in Atlantic Lithium’s flagship asset in Ghana, along with its recent financial results and the mark-to-market value for equity investments. Roth MKM adds that its price target cut mainly reflects the lower valuations for these investments.
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