Lithium Royalty initiated with an Outperform at TD Cowen

TD Cowen analyst David Deckelbaum initiated coverage of Lithium Royalty with an Outperform rating and C$18.50 price target. Lithium Royalty is the first publicly traded lithium royalty company with an interest in 30 projects, which is being underappreciated from a net asset value perspective, the analyst tells investors in a research note. The firm says its base case allows for an attractive dividend yield potential of 2% over the next several years.