MP Materials (MP, Financial) has seen its price target raised by Canaccord from $55 to $64, while maintaining a Buy rating on the stock. This adjustment follows the announcement of MP Materials securing Apple as its second major commercial client, in addition to their recent agreement with General Motors last week. The management team anticipates ramping up production capabilities to supply components for "hundreds of millions of Apple devices" by the year 2027.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 10 analysts, the average target price for MP Materials Corp (MP, Financial) is $37.46 with a high estimate of $55.00 and a low estimate of $20.00. The average target implies an downside of 35.66% from the current price of $58.22. More detailed estimate data can be found on the MP Materials Corp (MP) Forecast page.
Based on the consensus recommendation from 12 brokerage firms, MP Materials Corp's (MP, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for MP Materials Corp (MP, Financial) in one year is $27.65, suggesting a downside of 52.51% from the current price of $58.22. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the MP Materials Corp (MP) Summary page.
