Lithium Ionic (CVE:LTH) Price Target Raised to C$2.15

Key Points

• Canaccord Genuity Group has increased its price target for Lithium Ionic (CVE:LTH) from C$1.80 to C$2.15, indicating a potential upside of 179.22% from the previous close.
• BMO Capital Markets has set a target price of C$1.25 on Lithium Ionic, while two analysts maintain a Buy rating for the stock, contributing to a consensus average target price of C$1.70.
• As of midday trading, Lithium Ionic's stock was at C$0.77, with a market cap of C$122.11 million and a 12-month price range between C$0.50 and C$1.15.

Lithium Ionic (CVE:LTH - Get Free Report) had its price objective boosted by equities research analysts at Canaccord Genuity Group from C$1.80 to C$2.15 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a "speculative buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 190.54% from the company's previous close.

Separately, BMO Capital Markets set a C$1.25 price target on Lithium Ionic and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of C$1.70.

Lithium Ionic Price Performance

Shares of Lithium Ionic stock traded down C$0.03 on Thursday, hitting C$0.74. 261,490 shares of the company's stock traded hands, compared to its average volume of 237,669. The company has a market capitalization of C$117.35 million, a price-to-earnings ratio of -10.57 and a beta of 0.83. The company has a fifty day moving average of C$0.72 and a two-hundred day moving average of C$0.71. Lithium Ionic has a one year low of C$0.50 and a one year high of C$1.15.