IperionX price target raised to $35 from $32 at Alliance Global Partners

Alliance Global Partners analyst Jake Sekelsky raised the firm’s price target on IperionX (IPX) to $35 from $32 and keeps a Buy rating on the shares. The company recently announced the receipt of a United States Department of Defense contract for up to $99M, which indicates IperionX’s status as a near-term commercial supplier of domestic titanium products, the analyst tells investors in a research note. The firm views the award as further validation that the company is on the cusp of commercializing its HAMR titanium processing technology and transitioning to serving as a key player in the on-shoring of the titanium supply chain in the U.S.