JPMorgan downgraded MP Materials to Neutral from Overweight with a price target of $16, down from $20, ahead of the Q1 report. The analyst ices lower assumed long-term neodymium pricing given China’s supply resilience and a low likelihood of a market bifurcation within this decade for the downgrade. The firm has trouble looking past China’s “supply spigot,” with the country accounting for 70% of mine and 90% of refined production. It believes MP’s supply and demand risk are now weighted to the downside.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MP:
- Australian Stocks: Rinehart Grabs Big Stake in Lynas Rare Earths (LYC), Shares Soar
- MP Materials price target lowered to $15 from $17 at Deutsche Bank
- MP Materials call volume above normal and directionally bullish
- MP Materials (NYSE:MP): Front-Runner in the Rare Earth Metals Market
- MP Materials awarded $58.5M for rare earth magnet manufacturing facility