Morgan Stanley analyst Carlos De Alba lowered the firm’s price target on MP Materials (MP) to $62 from $71 and keeps an Overweight rating on the shares as part of a broader research note on Americas Metals & Mining. The firm expects Middle East conflict and geopolitical tensions to keep volatility in the mining space elevated, adding that it favors precious metal-exposed names as it expects gold/silver prices to strengthen. Morgan Stanley further cites the company developing a fully domestic rare earth mine-to-magnet supply chain, also noting that its partnership with the DoD has materially de-risked MP Materials’ business model.
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