Lithium Americas price target raised to $5 from $3.50 at BMO Capital

BMO Capital raised the firm’s price target on Lithium Americas (LAC) to $5 from $3.50 and keeps a Market Perform rating on the shares. The firm is citing confirmation the DOE is receiving essentially free stakes in Thacker Pass and LAC in return for loan repayment deferrals, which lowers its 10% NAV to about $3.40 per share, the analyst tells investors in a research note. With funding lined up for Thacker Pass after completing renegotiation with the government, Thacker can continue to progress to hopefully a key part of a burgeoning North American EV supply chain, the firm added.