TD Cowen analyst David Deckelbaum has maintained their neutral stance on LYSCF stock, giving a Hold rating today.
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David Deckelbaum has given his Hold rating due to a combination of factors influencing Lynas Rare Earths’ current and future performance. The company has shown strong operational results, benefiting from higher pricing and strategic growth initiatives supported by a significant equity raise. However, production levels have been managed in line with market demand, which has been affected by a pricing reversal as magnet makers paused inventory restocking.
Despite the positive ramp in production and sales, Lynas’ results fell short of consensus expectations, which may have influenced the Hold rating. The company’s strategic growth plan, including expansions in Malaysia and partnerships in the US, presents potential for future growth, but uncertainties remain, particularly concerning permitting issues and market conditions. These factors combined suggest a cautious outlook, justifying the Hold recommendation.
In another report released today, Morgan Stanley also maintained a Hold rating on the stock with a A$19.45 price target.