Piedmont Lithium price target raised to $90 from $85 at DA Davidson

DA Davidson analyst Matt Summerville raised the firm’s price target on Piedmont Lithium to $90 from $85 and keeps a Buy rating on the shares. The analyst notes the recent developments across the company’s global lithium assets, including a $142M DoE grant for Tennessee Lithium. Summerville also sees an "illogical valuation gap" between Piedmont’s market value and the earnings power of its Sayona offtake and associated 25% ownership of NAL.