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Investing.com - BMO Capital raised its price target on Standard Lithium Ltd. (NYSE:SLI) (SLI:CN) to Cdn$6.50 from Cdn$5.25 while maintaining an Outperform rating.
The firm increased its target multiple to 1.0x from 0.9x, citing renewed interest in critical minerals following recent U.S. government financing announcements and Standard Lithium’s technological de-risking efforts.
BMO Capital noted that extensive testing and performance guarantees should provide investors with greater confidence in the company’s execution capability.
The analyst expects an update on project financing and Final Investment Decision (FID) by the end of the year.
Standard Lithium focuses on lithium production, a critical mineral for electric vehicle batteries and energy storage systems.
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