Analyst Actions: Nemaska Lithium Target Price Cut to $1.45 at BMO Capital; Reaffirmed with Outperform

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Analyst Actions: Nemaska Lithium Target Price Cut to $1.45 at BMO Capital; Reaffirmed with Outperform

posted on Nov 02, 2018 11:12AM

2018-11-02 11:04:21 AM ET (MT Newswires)

11:04 AM EDT, 11/02/2018 (MT Newswires) -- Nemaska Lithium (NMX.TO) gained 3% in recent trade after BMO Capital on Thursday reduced its target price to $1.45 while keeping an outperform rating.

BMO said despite lithium price concerns, risk/reward on Nemaska Lithium is compelling. An innovative conversion process could place Nemaska Lithium at the low end of the lithium hydroxide cost curve, providing insulation and $3 upside potential. However, as the commercial plant must scale ~65x, the broker conservatively models higher costs. This still produces a ~$1.45/sh base case NAV.

Price: 0.79, Change: +0.02, Percent Change: +2.6

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