BMO Cuts Lithium Americas Target to $4.50 Amid 15% Capex Inflation and Dilution Concerns

Lithium Americas' (LAC) stock has lost 16% YTD, trading at $3.97, and is off its 52-week high of $10.52. BMO Capital cut its price target to $4.50 from $6 due to 15% capex inflation at Thacker Pass and ongoing dilution from equity issuance, citing limited near-term upside. The company has drawn $867.6M from its $2.23B DOE loan facility and holds $905.6M in cash, with strategic partnerships including a GM joint venture.