Ioneer upgraded to Speculative Buy from Hold at Canaccord

Canaccord upgraded Ioneer to Speculative Buy from Hold with a price target of A$0.45, up from A$0.40. The stock has traded "steadily lower" since peaking in 2021 as delays to the permitting process and uncertainty around key areas of the project have weighed and although the firm continues to be cautious on several of these points, the analyst argues that the market is "now discounting the equity by too large a degree for a U.S.-based, largely funded and advanced project" like the North Basin.