UPDATE: Baird Starts MP Materials (MP) at Outperform

Baird analyst Ben Kallo initiates coverage on MP Materials (NYSE: MP) with a Outperform rating and a price target of $45.00.

The analyst comments "Using a 20x EV/EBITDA multiple on our 2025 estimates, we arrive at a $45 price target. Given MP’s unique asset in Mountain Pass, non-China status, and sustainable business practices, we estimate that MP deserves a premium to comps. Furthermore, MP’s ambition to establish itself into a full magnet maker past 2025 warrants a superior multiple, in our opinion."

For an analyst ratings summary and ratings history on MP Materials click here. For more ratings news on MP Materials click here.

Shares of MP Materials closed at $35.78 yesterday.

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