MP Materials price target lowered to $25 from $32 at Northland

Northland lowered the firm’s price target on MP Materials to $25 from $32 and keeps an Outperform rating on the shares. The firm believes MP Materials is facing a “confluence of negative events” that could potentially impact the stock performance near term, including an unfavorable pricing environment for Neodymium Praseodymium, or NdPr, which is adversely impacting both volume and pricing. While still constructive on MP’s long-term prospects, the firm says shares might underperform near-term as we expect consensus numbers to come down amid the drop in NdPr prices.