Arcadium Lithium Earnings Can Triple By FY26 Despite Weak EV Demand: Analyst
Portfolio Pulse from Lekha Gupta
Arcadium Lithium plc (NYSE:ALTM) shares are trading higher after RBC Capital analyst Kaan Peker initiated coverage with an Outperform rating and a $4.00 price target. Despite weak EV demand, the analyst predicts strong production growth and tripling earnings by FY26.
June 26, 2024 | 6:56 pm
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RBC Capital analyst Kaan Peker initiated coverage on Arcadium Lithium (NYSE:ALTM) with an Outperform rating and a $4.00 price target. The analyst predicts strong production growth and tripling earnings by FY26, despite weak EV demand.
The initiation of coverage with an Outperform rating and a price target of $4.00 by RBC Capital is a strong positive signal for investors. The analyst's prediction of tripling earnings by FY26, despite current weak EV demand, suggests significant growth potential. This has led to a 12.70% increase in ALTM shares, indicating positive market reception.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100