The Globe and Mail reports in its Tuesday, Nov. 14, edition that RBC Capital Markets analyst Andrew Wong has reaffirmed his "outperform" recommendation for Largo. The Globe's David Leeder writes in the Eye On Equities column that Mr. Wong cut his share target back by a loonie to $8. Analysts on average target the shares at $10.31.
Mr. Wong says in a note: "Largo has met a confluence of challenges in 2023, both operationally and through a softening vanadium market. However, we continue to see potential value if the company can execute on operational improvements and successfully ramp-up value-add projects (ilmenite plant in the near-term, LCE longer-term)." The Globe reported on Feb. 8 that Noble Capital rated Largo "outperform" when it was worth $8.25. The Globe reported on Feb. 17 that Mr. Wong rated Largo "outperform." It was then worth $8.92. The Globe reported on Oct. 19 that CIBC World Markets analyst Bryce Adams was sticking with his "neutral" recommendation for Largo. The shares could then be had for $4.09.
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