BofA raised the firm’s price target on MP Materials (MP) to $26 from $22 and keeps a Buy rating on the shares. Q4 adjusted EBITDA loss was better than BofA and Visible Alpha consensus, driven by higher shipments and realized pricing, while MP guided for higher sequential production in Q1 with pricing flat and continues to see “line of sight” to positive midstream gross margins exiting the quarter, the analyst tells investors.
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