IperionX price target raised to $24.50 from $16.50 at Alliance Global

Alliance Global Partners analyst Jake Sekelsky raised the firm’s price target on IperionX (IPX) to $24.50 from $16.50 and keeps a Buy rating on the shares after the company announced a scope of work agreement with Ford Motor (F). The stock in morning trading is up 121% to $14.67. The agreement is a “major milestone” and also opens the door for IperionX to incorporate its “revolutionary technology” into additional car supply chains going forward, the analyst tells investors in a research note. The firm says the production of titanium metal components utilizing IperionX’s “ESG-friendly” recycled titanium should support Ford moving toward its commitment to achieve carbon neutrality by 2050