Piedmont Lithium price target raised to $190 from $150 at Roth MKM

Roth MKM analyst Joe Reagor raised the firm’s price target on Piedmont Lithium to $190 from $150 and keeps a Buy rating on the shares. The results of the company’s Definitive Feasibility Study for its Tennessee Lithium Project showed robust economics as they were relatively similar to a prior PEA with higher capex and operating costs being more than offset by higher pricing, the analyst tells investors in a research note. Roth MKM believes that the stock’s market value doesn’t reflect the sum of the parts or current pricing.