JPMorgan analyst Bill Peterson lowered the firm’s price target on MP Materials (MP) to $21 from $22 and keeps a Neutral rating on the shares as part of a Q1 earnings preview. The firm expects the earnings call will be heavily focused on a shift in the company’s strategy after rare earth oxides shipments to China were halted earlier this month. It believes MP’s execution on its mid- and downstream ramps remain key.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MP:
- Burgum says U.S. considering equity stakes in mineral companies, Bloomberg says
- Charged: Tesla reports disappointing quarterly results
- MP Materials call volume above normal and directionally bullish
- Musk warns Tesla robots may be delayed due to China’s halt on exports, NYT says
- MP Materials falls as JPMorgan sees headwinds from China halt