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.

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.