The Globe and Mail reports in its Thursday, March 28, edition that RBC Capital 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 for Largo to $5 from $8. Analysts on average target the shares at $6.40.
Mr. Wong says in a note: "We continue to see significant potential value in Largo if the company can execute on operational improvements and successfully ramp-up long-term value-add projects (pigments, LCE). Additionally, while we see continued near-term challenges to vanadium prices, we expect long-term prices to recover as macro conditions improve." The Globe reported on Feb. 17, 2023, and Nov. 14, 2023, that Mr. Wong rated Largo "outperform." It was then worth $8.92 and $2.83. The Globe reported on Oct. 19, 2023, 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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