Sigma Lithium upgraded to Buy from Speculative Buy at Canaccord

Canaccord analyst Katie Lachapelle upgraded Sigma Lithium to Buy from Speculative Buy with a price target of C$67, up from C$65, after the company announced that it has successfully achieved first production of spodumene concentrate at its flagship Grota do Cirilo project in Brazil. Sigma achieved production on time, which is "a rare achievement for a lithium development project," says the analyst, who expects the stock to re-rate over the coming months as the company transitions from developer into producer.