BofA resumed coverage of Sigma Lithium (SGML) with a Buy rating and $37 price target. Sigma was “not only profitable” in its first full operational quarter in Q3, but margins were favorable and generally above competitors Albemarle (ALB) and Livent (LTHM), the analyst tells investors. While the firm notes it has trimmed 2024 estimate for Sigma, it adds that margins are still favorable when compared to global lithium competitors.
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Read More on SGML:
- Sigma Lithium price target lowered to $40 from $44 at BMO Capital
- Largest borrow rate increases among liquid names
- Unusually active option classes on open November 13th
- Sigma Lithium’s strategic review process advanced to the final round
- Sigma Lithium receives 50% prepayment from Glencore for lithium shipment
