Jefferies analyst Laurence Alexander downgraded MP Materials (MP) to Hold from Buy with a price target of $33, up from $32. The firm believes China’s shift to short-term export licenses for rare earth magnets reduces the risk of near-term shortages. The global policy response will likely focus on driving supply, while the demand outlook remains mixed for MP’s key markets of electronics, windmills, electric vehicles and robots, the analyst tells investors in a research note. As such, Jefferies views the stock’s risk/reward as neutral at best.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MP:
- Hold Rating for MP Materials Amid Uncertain Demand and Policy Shifts
- Trump Trade: Canada rescinds digital services tax after U.S. drops trade talks
- China’s export controls impact products beyond rare earth, magnets, FT says
- MP Materials falls -9.2%
- China slow to export rare earth magnets to U.S., WSJ says