Northland analyst Abhishek Sinha upgraded MP Materials to Outperform from Market Perform. A recovery in neodymium and praseodymium, or NdPr, prices makes the firm believe “that the worst is probably over,” the analyst tells investors. While admitting that the firm doesn’t know the trajectory of the recovery going forward, “we believe the Street has largely absorbed the downside scenarios and risks are now more skewed to upside,” Northland tells investors.
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