USA Rare Earth price target raised to $35 from $28 at Cantor Fitzgerald

Cantor Fitzgerald analyst Derek Soderberg raised the firm’s price target on USA Rare Earth (USAR) to $35 from $28 and keeps an Overweight rating on the shares. USA Rare Earth this week secured a U.S. government LOI and raised $1.5B through a PIPE, boosting total available capital to about $3.5Bn to support accelerated mining, expanded metal-making capacity, and magnet production ramp-up, the analyst tells investors in a research note. With funding risk reduced, attention shifts to execution of magnet production, which management believes could drive $1.2B of EBITDA by 2030 if milestones are met, the firm notes.

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