DA Davidson raised the firm’s price target on MP Materials (MP) to $82 from $32 and keeps a Buy rating on the shares. The firm is citing the company’s Q2 results, including consideration of its significant Department of Defense agreement and the associated floor price agreement for all NdPr products and ending of shipments to China, the analyst tells investors in a research note. The NdPr output continues to gradually climb, with con output near a record level and further progress has been steadily made towards commercial scale magnet production, the firm added.
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