MP Materials Backed By $110 DoD Price Floor As JPMorgan Sees 33% Upside
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MP Materials Corp (NYSE:MP) is supported by a $110/kg price floor from the Department of Defense, which provides earnings protection amid rising rare earth prices. JPMorgan's Bill Peterson maintains an Overweight rating and raises the price target to $76, indicating a 33% upside. The agreement ensures downside protection while allowing for potential gains as NdPr prices rebound. Investors are focused on midstream production and the upcoming commercial magnet ramp in 2026, with expectations of positive EBITDA in Q4. Peterson argues that rare earth security is a structural issue, not cyclical.
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