Jefferies Maintains Buy Rating on Lithium Americas (LAC) Stock

Lithium Americas Corp. (NYSE:LAC) is one of the Best WallStreetBets Stocks to Invest In. On September 24, analyst Laurence Alexander of Jefferies maintained a “Buy” rating on the company’s stock, reducing the price objective to $7.00. The analyst’s rating is backed by a combination of factors. The ongoing discussions with the Department of Energy (DOE) and General Motors (GM) about the $2.3 billion loan and potential equity stake demonstrate a strategic alignment, which can benefit Lithium Americas Corp. (NYSE:LAC)The government is reviewing the financing, and Lithium Americas Corp. (NYSE:LAC) offered warrants to adjust the loan amortization schedule, suggesting proactive management of financial obligations, added Alexander.

Jefferies Maintains Buy Rating on Lithium Americas (LAC) Stock

Also, the analyst believes that commitments from GM showcase a robust demand for Lithium Americas Corp. (NYSE:LAC)’s output. The project at Thacker Pass continues to progress, with a significant portion of engineering completed and construction milestones being met, cementing confidence in Lithium Americas Corp. (NYSE:LAC)’s operational capabilities. On April 1, Lithium Americas Corp. (NYSE:LAC) closed the strategic investment from fund entities managed by Orion Resource Partners LP for the development and construction of Phase 1 of Thacker Pass.

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Disclosure: None. This article is originally published at Insider Monkey.