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.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on SGML:
- Sigma Lithium price target raised to C$64 from C$45 at Canaccord
- SIGMA LITHIUM ACHIEVES OUTSTANDING PROJECT EXPANSION AND FINANCING MILESTONES: INCREASES MINERAL RESERVES BY 63%, TRIPLES NPV TO US$ 15.3 BILLION AND SECURES US$ 100 MILLION DEBT FINANCING
- These 5 Mid-Cap Stocks Doubled in 2022; Which Do You Already Own?
- Lithium Stocks Continue to Grab Eyeballs
