Sigma Lithium short report doesn’t change BofA’s bullish view

BofA analyst Matthew DeYoe notes that an investment research company published a report with its short thesis on Sigma Lithium, in which the firm highlights risks around execution, expertise, stakeholder agreements and funding. However, the firm contends that many of the questions raised by this short seller can be viewed simply in the context that the lithium industry has moved from a period of market oversupply to undersupply and the report does not change the firm’s view that Sigma has "one of the most desirable greenfield lithium projects on the market," along with one of the more qualified operating teams and an equity value that "leaves more room for appreciation." BofA reiterate its Buy rating and $45 price target on Sigma shares.