Jefferies upgraded MP Materials (MP) to Buy from Hold with a price target of $80, up from $33. The shares have doubled following MP’s “transformational” deals with the Department of Defense and Apple, the analyst tells investors in a research note. The firm believes additional agreements are likely in the back half of 2025 and 2026. It also expects the company’s “strategic option value to step higher” if investors focus on its Saudi joint venture or a potential European Union project to cement its leadership outside China. Further, interest rate cuts could also be a potent catalyst for the shares, says Jefferies.
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