Atlas Lithium price target lowered to $36 from $39 at Roth MKM

Roth MKM lowered the firm’s price target on Atlas Lithium to $36 from $39 and keeps a Buy rating on the shares. The company has recently announced it had entered into an agreement with Mitsui whereby Mitsui would invest $30M via an equity transaction and sign an offtake agreement, and while this is an “incremental positive” for Atlas Lithium, the firm’s price target is reduced to reflect the impact of additional dilution, the analyst tells investors in a research note.