BMO Capital Markets on Monday maintained its outperform, speculative risk, rating on the shares of Standard Lithium (SLI.V) while raising its price target to C$5.25 from C$4.75 after the company's Smackover Lithium joint venture, co-owned with Equinor, released a definitive feasibility study (DFS) for its South West Arkansas ("SWA") project.

"The SWA Phase 1 DFS was largely in line with our prior estimates with capital costs in line while operating costs were lower, which offset the lower project operating life assumed in the DFS. We have made changes to our model to align with the DFS estimates. However, we have maintained our longer project operating life assumption, which increases our base-case NAV8% and drives the target price increase to C$5.25/sh (was C$4.75/sh). We maintain an Outperform Speculative rating," analyst Raj Ray 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: 4.19, Change: -0.06, Percent Change: -1.41