JPMorgan Upgrades Lithium Americas Stock with Significant Price Target
JPMorgan has upgraded its rating for Lithium Americas Corp (LAC) to 'Overweight' from 'Neutral', setting a $6 price target that implies nearly 100% upside. This move reflects improved expectations around lithium prices, which JPMorgan now forecasts will remain above $20 per kilogram through the end of this decade due to potential supply deficits. The investment thesis is centered on Lithium Americas' Thacker Pass project in Nevada, a key domestic development expected to begin commercial production by 2028. The company aims for annual output of 40,000 tonnes of battery-grade lithium carbonate from Phase 1 and has been progressing with construction despite concerns over financing risks. LAC's stock closed at $3.19 on September 9 after a recent rebound fueled by the JPMorgan upgrade but saw some pullback afterward. The company remains pre-revenue, though it reported net income of $2.2 million in Q2 2026.
Topics: JPMorgan LAC stock lithium Thacker Pass