In a report released yesterday, David Deckelbaum from TD Cowen maintained a Buy rating on MP Materials, with a price target of $80.00.
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David Deckelbaum has given his Buy rating due to a combination of factors including MP Materials’ strong quarterly performance and strategic advancements. The company exceeded expectations in rare earth oxide volumes and maintained steady neodymium-praseodymium production, which aligns with their strategic goals. Additionally, the recent deal with the Department of Water and Power, effective from October 1, is expected to return MP to profitability, with significant financial benefits anticipated in 2026.
Furthermore, MP Materials is making substantial progress towards vertical integration, with plans to commission a new heavy rare earth circuit in mid-2026. This development is expected to support the company’s growth and operational efficiency. The company’s financial health is also bolstered by prepayments from Apple and an improved EBITDA performance, indicating a positive outlook for future earnings. These factors collectively underpin Deckelbaum’s optimistic Buy rating for MP Materials.
In another report released on October 30, Bank of America Securities also reiterated a Buy rating on the stock with a $112.00 price target.