Alliance Global raised the firm’s price target on American Battery (ABAT) to $7 from $6 and keeps a Buy rating on the shares following the fiscal Q1 report. The firm believes the company is positioned as an emerging critical minerals supplier in the U.S. given that its battery recycling operations are “ramping” while the “de-risking” of Tonopah Flats continues. The pre-feasibility study indicates Tonopah Flats is one of the largest undeveloped lithium projects in the United States that has the potential to serve as a key source of domestic supply in the coming years, the analyst tells investors in a research note.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ABAT:
- American Battery Technology Holds Annual Shareholder Meeting
- American Battery Technology Reports Increased Revenue and Cash Reserves
- American Battery reports Q1 EPS (9c) vs. (17c) last year
- American Battery contracted to recycle end-of-life lithium-ion batteries
- American Battery Technology Signs Recycling Agreement with Veolia