Canaccord Adjusts Lithium Americas Corp. (LAC) Target Following 2026 CapEx and Project Updates
Lithium Americas Corp. (NYSE:LAC) is among the 12 Most Promising EV Battery Stocks to Buy Now.
Lithium Americas Corp. (NYSE:LAC) is among the most promising stocks on our list.
TheFly reported on February 20 that Canaccord Genuity lowered its price target for LAC to C$7 from C$7.50 while keeping a Hold rating. The change came after the business provided forecasts for 2026 capital expenditures and project milestones for the Thacker Pass lithium project in Nevada.
On February 19, Lithium Americas Corp. (NYSE:LAC) provided an update on its Thacker Pass project in Humboldt County, Nevada. It contained details on the project's 2025 status, 2026 capital expenditure estimates, and upcoming milestones. Phase 1 construction is on track to be completed by the end of 2025, with detailed engineering 93% complete and procurement 60% complete.
About 950 people worked at the site by the end of 2025, and by 2026, that figure is expected to approach 1,800. The project finished 1.69 million hours of work without any significant mishaps in 2025, and significant processing facilities were still undergoing structural, foundation, and concrete work. The Workforce Hub, which has about 700 residents, is largely operational, and long-lead equipment installation has begun.
Staffing, safety programs, training, and equipment testing are all part of the Operations and Business Readiness team's expansion to manage commissioning and production transition. Phase 1 capital expenditures, which include major equipment deliveries, pipe rack installation, high-voltage line commissioning, concrete completion, early plant commissioning, and substation modifications to support mechanical completion by late 2027, are estimated by LAC to be between $1.3 and $1.6 billion for 2026.
Lithium Americas Corp. (NYSE:LAC) develops lithium resources for EV batteries, focusing on sustainable extraction from its projects in North and South America. The company supplies critical lithium materials to support the growing electric vehicle and renewable energy markets.
While we acknowledge the potential of LAC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the
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