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Investing.com - Raymond (NSE:RYMD) James initiated coverage on Standard Lithium Ltd. (NYSE:SLI) with an Outperform rating and a price target of $2.75 on Thursday. The stock, currently trading at $2.73 with a market capitalization of $534 million, has shown remarkable momentum with a 100% return over the past year according to InvestingPro data.
The research firm identified Standard Lithium as a leader in Direct Lithium Extraction (DLE), with a focus on advancing its lithium-brine projects portfolio in the United States.
Raymond James highlighted the company’s flagship South West Arkansas Project (SWA), which is 55% owned by Standard Lithium and located in southern Arkansas, describing it as part of a burgeoning region in the DLE space.
The firm also noted the 55% owned East Texas Project, which is less developed than SWA but provides investors with an additional premier project opportunity.
While acknowledging that Standard Lithium is still in the development stage and lithium is currently out of favor, Raymond James expressed belief that the mineral will maintain significant market demand over the next few decades.
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