Elevra Lithium initiated with an Outperform at BMO Capital

BMO Capital initiated coverage of Elevra Lithium (ELVR) with an Outperform rating and A$12.50 price target The firm says Elevra is a leading North American lithium producer following the merger of Sayona and Piedmont Lithium. The merger consolidated ownership of the company’s flagship North American Lithium asset and eliminated a restrictive offtake agreement, the analyst tells investors in a research note. BMO says the Elevra offers “attractive leverage” to a further rebound in lithium prices.