BofA resumed coverage of Sigma Lithium (SGML) with a Buy rating and $37 price target. Sigma was “not only profitable” in its first full operational quarter in Q3, but margins were favorable and generally above competitors Albemarle (ALB) and Livent (LTHM), the analyst tells investors. While the firm notes it has trimmed 2024 estimate for Sigma, it adds that margins are still favorable when compared to global lithium competitors.
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