B. Riley lowered the firm’s price target on IperionX (IPX) to $52 from $58 and keeps a Buy rating on the shares. The company’s capacity expansion from 200 tpa to 1,400 tpa remains on track for mid-2027, supported by improved government funding, though the EBITDA-positive target for year-end 2026 appears ambitious given minimal current revenue and $8M-$9M quarterly cash burn, the analyst tells investors in a research note.
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