Why Lithium Americas Stock Popped 10% Today
Shares of Lithium Americas (NYSE: LAC) shot up on Thursday, closing the day up 8.9% thanks to an analyst turning bullish about the lithium market and lithium stocks.
JPMorgan initiated coverage on Lithium Americas stock with a price target of $28 a share. JPMorgan foresees strong lithium markets over the next decade driven by rising demand and prices, and believes Lithium Americas is well poised to take advantage of that. JPMorgan's price target represented a solid 37% upside from the lithium stock's opening price Thursday.
There's some merit in JPMorgan's views, as Lithium Americas' prospects are enticing.
Source Fool.com
