BMO Capital Markets on Friday maintained its market-perform rating on the shares of Lithium Argentina AG (LAR.TO, LAR) while lowering its price target to US$2.50 from an undisclosed prior level following the company's first-quarter results.
"As we follow up post Q1 results last week, we reiterate our Market Perform rating but lower our target price to US$2.50, just below our decreased 10% NPV of ~US$2.61/sh. Our target implies ~20x 2026E EV/EBITDA - and this still assumes LCE/carbonate prices about double from sub-$10k/t levels with LAR maintaining a ~$2k/t quality+VAT realized ASP discount. The Cauchari-Olaroz JV has stabilized production and costs, but the asset seems marginal on a OCF/FCF basis at spot prices. We remain neutral on risk/reward," analyst Joel Jackson wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 2.55, Change: +0.02, Percent Change: +0.99
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