BMO Capital analyst Joel Jackson initiated coverage of Sigma Lithium with an Outperform rating and $40 price target. The "easy money" has likely been made in the stock as it has been one of the best performing lithium names amid a burgeoning EV dynamic), but he still sees upside as Sigma re-rates from developer to producer by mid-2023, ramps and expands production over time, as well as becomes a more attractive takeover target, the analyst tells investors in a research note.
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Published first on TheFly
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