Nouveau Monde price target raised to $4.70 from $2.60 at Roth Capital

Roth Capital analyst Joe Reagor raised the firm’s price target on Nouveau Monde (NMG) to $4.70 from $2.60 and keeps a Buy rating on the shares. In recent weeks, China has intensified and expanded export controls and this, combined with a renewed focus on developing North American supply chains, has driven a revaluation of critical minerals companies – a trend that is likely to continue, the analyst tells investors in a research note. The recent revaluation is likely sticky due to a global shift to re-onshore supply chains, the firm added.