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Message: Wall Street Analysts See a 60.77% Upside in Lithium Americas Corp. (LAC): Can the Stock Really Move This High?

Wall Street Analysts See a 60.77% Upside in Lithium Americas Corp. (LAC): Can the Stock Really Move This High?

posted on Mar 21, 2024 11:44AM

https://finance.yahoo.com/news/wall-street-analysts-see-60-135507103.html

"Shares of Lithium Americas Corp. (LAC) have gained 38.3% over the past four weeks to close the last trading session at $5.99, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $9.63 indicates a potential upside of 60.8%."

 

"Here's Why There Could be Plenty of Upside Left in LAC

Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Over the last 30 days, the Zacks Consensus Estimate for the current year has increased 68.6%, as two estimates have moved higher while one has gone lower.

 

Moreover, LAC currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, while the consensus price target may not be a reliable indicator of how much LAC could gain, the direction of price movement it implies does appear to be a good guide."

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I like the "FOG" that Zacks brings to the table regarding LAC.

 

Onward through the FOG!

 

Okiedo

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