Morgan Stanley Starts MP Materials (MP) at Overweight
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(Updated - March 2, 2021 9:25 AM EST)
Morgan Stanley analyst Carlos De Alba initiates coverage on MP Materials (NYSE: MP) with a Overweight rating and a price target of $57.00.
The analyst commented, "MP is the largest US-based miner of rare earths and a play on accelerating adoption of electric vehicles and electrification trends in wind turbines. The company's strong balance sheet and positive cash from operations support a value-added downstream strategy."
Shares of MP Materials closed at $46.20 yesterday.
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