Clear Street raised the firm’s price target on Critical Metals (CRML) to $20 from $14 and keeps a Buy rating on the shares. The company signed a 50/50 joint venture term sheet with a leading industrial conglomerate in Saudi Arabia for a strategic partnership to develop and construct a rare earth processing facility there, the analyst tells investors in a research note. The firm expects nearly 100,000 metric tons of annual production of rare earth elements concentrate production at Tanbreez in Phase 1.
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