Investment bank Canaccord Genuity says this stock is a 'speculative buy' but has massive potential.
Shares of U.K.-based CleanTech Lithium could soar by 600%, according to investment bank Canaccord Genuity. Analysts at the bank said the London-listed stock has the potential to rise to £2.80 over the next 12 months as long-term lithium demand continues to rise. The stock was trading around £0.40 on Monday at 2 p.m. London time. Founded in 2017 and based in Jersey, CleanTech Lithium is a lithium exploration and development company — that has yet to actually mine any of the metal.
CTL-GB 1Y line Chart showing shares of London-listed CleanTech Lithium 'Speculative buy' The investment bank has rated the stock a "speculative buy," meaning that it bears a "significantly higher risk" than a stock with its typical buy rating and could lead to a material loss for investors. In addition, the investment bank said the growth and buildout phase of CleanTech Lithium means normal fundamental criteria cannot value the company.
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