MP Materials price target lowered to $14 from $15.50 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on MP Materials to $14 from $15.50 and keeps an Equal Weight rating on the shares as part of a broader research note on U.S. Metals & Mining names. Global decarbonization and electrification trends, rising geopolitical tensions testing legacy supply chains and increasingly challenging conditions to develop new supply continue to underpin a positive outlook for the mining sector in the coming years, though the firm prefers companies with short-term catalysts, the analyst tells investors in a research note.