Is E3 Lithium stock a buy right now?

Roth Capital Markets analyst Joe Reagor reiterated his “Buy” rating and C$3.00 price target on E3 Lithium (E3 Lithium Stock Quote, Chart, News, Analysts, Financials TSXV:ETL) following news the company received conditional approval for additional government funding.

In a March 5 note, Reagor said E3 Lithium was conditionally approved for up to C$36.5-million in non-repayable funding through the Government of Canada’s Global Partnerships Initiative. The funding remains subject to completion of standard due diligence.

“We view this as an incremental positive for the company but elected to maintain our C$3.00 price target and reiterate our ‘Buy rating,’” Reagor said.

The funding is expected to support Phase 3 development of the company’s lithium demonstration facility, including the installation of a single commercial-scale extraction column.

Reagor said progress at the demonstration facility remains a key catalyst for the stock, with operational data expected throughout 2026 and Phase 3 representing the most significant milestone.

Based in Calgary, E3 Lithium is focused on developing lithium extraction from brines contained within its mineral properties in Alberta.

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