Canaccord raised the firm’s price target on MP Materials (MP) to $77 from $64 and keeps a Buy rating on the shares. The firm updated its model following a management presentation that Canaccord may be underappreciated when they said that “the DOD has committed to purchase 100% of the output from the new facility on a cost plus basis”…and MP expects “to syndicate a large portion of this output to commercial customers at improved economics, creating meaningful upside potential.” Canaccord calling it a demand buffer with upside margin potential.
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Read More on MP:
- MP Materials Reports Strong Revenue Growth and Strategic Partnerships
- MP Materials: Strong Performance, Strategic Growth, and Raised Price Target to $80
- MP Materials reports Q2 EPS (13c), consensus (20c)
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- MP Materials price target raised to $78 from $42 at BofA