Lithium Ionic (CVE:LTH) Given New C$1.50 Price Target at BMO Capital Markets

Key Points

• Analysts at BMO Capital Markets increased their price target for Lithium Ionic from C$1.25 to C$1.50, suggesting an upside of 108.33% from the current price.
• Canaccord Genuity Group also raised its price target on Lithium Ionic to C$2.15, maintaining a "speculative buy" rating for the stock.
• Despite these upgrades, Lithium Ionic shares fell by 2.7% on Monday, closing at C$0.72, with a market cap of C$114.18 million.

Lithium Ionic (CVE:LTH - Get Free Report) had its price target lifted by analysts at BMO Capital Markets from C$1.25 to C$1.50 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' price target indicates a potential upside of 105.48% from the company's current price.

Separately, Canaccord Genuity Group increased their price target on Lithium Ionic from C$1.80 to C$2.15 and gave the stock a "speculative buy" rating in a research note on Thursday, September 18th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$1.83.

Lithium Ionic Stock Performance

CVE:LTH traded up C$0.01 during trading on Monday, reaching C$0.73. The company's stock had a trading volume of 114,854 shares, compared to its average volume of 236,350. The firm has a market cap of C$115.76 million, a price-to-earnings ratio of -10.43 and a beta of 0.83. Lithium Ionic has a 12 month low of C$0.50 and a 12 month high of C$1.15. The firm has a 50 day moving average of C$0.72 and a 200-day moving average of C$0.71.