IperionX initiated with a Buy at BTIG

BTIG initiated coverage of IperionX (IPX) with a Buy rating and $40 price target IperionX is an upstart titanium manufacturer that started commercial production recently at its Virginia facility, the analyst tells investors in a research note. The firm says the company will ramp production to meet what it expects to be increasing titanium demand into the next decade. IperionX is looking to displace just 5% of U.S. imports next year, and its 2030 production target of 10,000 tonnes per annum looks conservative, contends BTIG.