As previously reported, Benchmark analyst Subash Chandra raised the firm’s price target on MP Materials (MP) to $80 from $30 and keeps a Buy rating on the shares after updating estimates to reflect the Department of Defense investment in a new magnetics plant and the arrangement with Apple (AAPL) to take the Independence facility to full capacity in exchange for recycled feedstock. The firm assumes 2030 magnetics revenue will be 15-times its 2025 forecast of $65M, the analyst noted.
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