Sigma Lithium resumed with a Buy at BofA

BofA analyst Rock Hoffman resumed coverage of Sigma Lithium (SGML) with a Buy rating and $12 price target While the firm’s price target implies “significant 95% upside” from the current share price, it remains spodumene market price sensitive, the analyst tells investors. If the firm were to take a more bearish stance that spodumene prices don’t see recovery until 2028, the effect on its net asset value would be “material,” albeit still in Buy territory, the analyst added.