Neal Dingmann Raises Iperionx Price Target to $57 on Strengthening Defense Titanium Demand and DoD Program Upside

Neal Dingmann has given his Buy rating due to a combination of factors tied to Iperionx’s strengthening position in defense-focused titanium manufacturing. He highlights that a new U.S. military funding package and purchase order showcase the company’s capability to produce large, ballistic-grade titanium components at scale, which should translate into materially higher long-term demand.

In his view, the phased $6.6 million Department of Defense–related program, combined with prototype fastener orders for the JLTV platform, not only validates Iperionx’s low-cost powder-to-plate technology but also positions it for follow-on contracts. Reflecting this improved outlook, he lifts his fair value estimate to $57 per share—implying substantial upside—while noting that this target does not yet factor in potential value from the Covia asset acquisition or the Titan Project, which offers further optionality.