BMO Capital analyst Greg Jones raised the firm’s price target on MP Materials (MP) to $22 from $19.50 and keeps a Market Perform rating on the shares. Following its tours of the Independence magnet facility in Fort Worth, the firm is impressed by the team the company has assembled to lead its magnetics division, which has achieved NdFeB metal production and started trial production of automotive-spec magnets, with line-of-sight to commercial-scale magnet production by year-end, the analyst tells investors in a research note.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MP:
- MP Materials restores U.S. rare earth magnet supply chain
- No day-one tariffs coming from Trump, trade overhaul planned, Reuters reports
- Trump’s team discussing gradual tariff increases, Bloomberg reports
- Trump Trade: EV ‘battery belt’ towns betting Trump won’t remove subsidies
- Trump says WaPo ‘incorrectly stated’ tariff policy will be pared back