MP Materials initiated with an Overweight at JPMorgan
The Fly

MP Materials initiated with an Overweight at JPMorgan

JPMorgan analyst Bill Peterson initiated coverage of MP Materials with an Overweight rating and $27 price target. The analyst expects upside to the company’s near-term pricing given China cost support estimated and further upside longer-term on solid demand growth and lagging supply. MP is well positioned to take advantage of a strengthening market for neodymium-praseodymium as it should be one of the lowest-cost producers in the world and an attractive partner for customers looking to secure a domestic source of supply, the analyst tells investors in a research note.

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