Analyst David Deckelbaum of TD Cowen maintained a Buy rating on Lithium Americas Corp., retaining the price target of $5.00.
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David Deckelbaum has given his Buy rating due to a combination of factors including the steady progress of the Thacker Pass construction project, which remains on schedule with significant milestones such as the completion of 70% of detailed engineering and the anticipated first steel installation in September. The company’s financial position is robust, ending the quarter with $509 million in cash, bolstered by investments from Orion and GM.
Additionally, the company is poised to draw on a substantial $2.26 billion DOE loan in the second half of 2025, supported by a $195 million line of credit from GM, which underscores confidence in its financial strategy. Despite concerns about water rights, management has confirmed that construction is proceeding without restrictions, and the project is expected to meet its Phase 1 completion target in late 2027. These factors, along with the ongoing commitment to project timelines and resource allocation, underpin Deckelbaum’s positive outlook on Lithium Americas Corp.