Jefferies analyst Mitch Ryan upgraded Lynas Rare Earths (LYSCF) to Buy from Hold with a A$24 price target The revised Lynas-JARE deal locks in 5,000tpa NdPr to 2038 at a $110/kg floor, notes the analyst, who also points out that the deal leaves room for meaningful production for spot or higher-return Western offtakes in the future.
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