- Piedmont Lithium (NASDAQ:PLL) +5.4% pre-market after Evercore ISI more than doubles its price target to $75 from $36, with a "bull case scenario" of $90, while maintaining its Outperform rating after shares jumped 14.4% yesterday to $57.70.
- Investor focus on an electrified and carbon neutral future is "intense," and lithium is a key facilitator regarding mobility as well as stationary power applications, Evercore's Stephen Richardson says.
- With a "unique, domestic asset and early mover advantage," Piedmont has the attributes to rank among the successful second wave of lithium producers the market will need in order to deliver on 2025 demand growth forecasts, the analyst says.
- But Gold Panda thinks Piedmont "looks overvalued," noting development-stage mining companies are rarely valued at more than 0.5x NPV, in a bearish analysis posted recently on Seeking Alpha.