The Globe and Mail reports in its Thursday, Aug. 7, edition that BMO Capital Markets analyst Raj Ray resumed coverage on Standard Lithium with an "outperform" recommendation and a $4.75 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $3.99. Mr. Ray says in a note: "Standard Lithium is developing a portfolio of high-grade lithium brine projects with its joint venture partner Equinor (Not Covered) in the Smackover Formation in the Southern U.S. The company plans to apply direct lithium extraction (DLE) technology to develop an integrated lithium business and produce battery-grade lithium carbonate. Equinor brings extensive sub-surface extraction experience and coupled with Standard's extensive multiyear demonstration and pilot plant testing, lowers project execution risk, in our view."
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