智通财经APP获悉，美洲锂业(LAC.US)周四股价暴跌21.72%。此前，在美国政府将入股该公司及其Thacker Pass项目的消息传出后，该股股价一度较此前上涨逾三倍。不过，摩根大通将该股评级从“中性”下调至“减持”，目标价为5美元，理由是按当前水平计算该股估值已显著偏高。
摩根大通分析师Bill Peterson表示，他仍认为Thacker Pass项目具备强劲潜力，原因包括低成本债务融资、与通用汽车(GM.US) 的稳固承购协议，以及该项目作为“西方锂产业代表”的战略地位——尤其是在未来几年锂价上行的背景下。然而，在考虑修订后的贷款条款与股权稀释因素后，他认为模型中可见的增量上行空间不足以支撑美洲锂业当前的估值。
Bill Peterson指出，美国政府入股美洲锂业更像是为了保护自身免受潜在损失，而非类似MP Materials(MP.US)案例中的真正战略性投资。他表示，散户与动量驱动的买盘已使该股与基本面脱节，一旦美中贸易关系在短期内出现正常化迹象，股价可能出现修正。
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