MP Materials (MP) PT Raised to $90 at Jefferies

Jefferies analyst Laurence Alexander raised the price target on MP Materials (NYSE: MP) to $90.00 (from $85.00) while maintaining a Buy rating.

The analyst comments "MP's profile as a potential national champion hinges on its vertical integration, opportunities for capital‑light international investments, and eventually, recycling capabilities. If fully utilized, MP Materials forecasts its "10x" 7kt plant could contribute up to $300m-$400m in EBITDA, >$100m above the DoD's $140m guarantee. We expect 1-2 new OEM off-take agreements each quarter and clarity on the Saudi project structure in 2026. Near-Term Ramp: Mountain Pass NdPr production is currently running at ~50% targeted throughput. Management expects to reach its ~6kt annual run-rate production target in 4-6 quarters, based on improving production 10-20% each quarter. On magnets, strip casters are producing flake, and powder lines, pressors, and sintering furnaces are installed and being tuned. Commercial production remains on track for YE25, with initial product sales by early 2026. The first DoD cash payments under the price floor agreement are expected by 1Q26."

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