Morgan Stanley upgraded MP Materials (MP) to Overweight from Equal Weight with a price target of $34, up from $23. The firm believes the current geopolitical tensions ad long-term robotics demand drivers will elevate MP’s strategic value. Geopolitical and trade tensions “are finally pushing critical mineral supply chains to top of mind,” the analyst tells investors in a research note. Morgan Stanley believes MP is positioned to take advantage with its “well-advanced upstream, midstream, and downstream magnet capabilities.”
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