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MP Materials (MP) was upgraded to overweight by JPMorgan with a $74 price target on rare earth security concerns.
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Gap (GPS) was upgraded to buy at Jefferies with a $30 target on beauty expansion and brand revitalization momentum.
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Nvidia (NVDA) retained buy ratings from multiple firms despite bubble fears. Citi expects $56.8B in sales versus $54.6B consensus.
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There’s a good deal of chaos in markets. For one, there’s unease over the Federal Reserve’s interest rate decision. Traders are now pricing in a 52% chance we’ll see a quarter-point cut in December, as compared to the 62.9% likelihood we saw yesterday, and 95% from last month. Two, tech stocks come under pressure on fears of a bubble, which some argue doesn’t exist. Still, top analysts are out pounding the table over stocks, such as:
MP Materials (NYSE: MP): With rare earth security concerns here to stay, analysts at JPMorgan believe MP is set to benefit. The firm also upgraded the miner to an overweight rating with a price target of $74 a share.
“Our new rating reflects our view that rare earths national security concerns are ‘here to stay’ despite China’s reported one-year pause on export restrictions, with risks remaining, especially for military exposure,” they said, as quoted by CNBC. “MP’s unique mine-to-magnet vertical integration positions the company as the ex-China leader ready to immediately begin addressing these concerns, although it will ultimately take multiple players over many years to sort out.”
Gap (NYSE: GPS): Analysts at Jefferies just upgraded Gap to a buy rating, with a price target of $30. The firm expects Gap to build on its strong momentum through brand revitalization, which could support both top and bottom-line growth.
“GAP is expanding into the higher-margin beauty segment, a category with a resilient growth trajectory. U.S. beauty sales are projected to reach $153B by 2029, and even a modest share capture could generate hundreds of millions in incremental revenue and deliver meaningful EBITDA upside,” they added, as also quoted by CNBC.
Nvidia (NASDAQ: NVDA): The tech giant took a hit this week on bubble concerns. However, analysts are standing by their calls. Oppenheimer, for instance, reiterated its outperform rating with a price target of $265 a share. Citi reiterated a buy rating on the stock, with a price target of $220 from $210. The firm expects NVDA to post sales of $56.8 billion, as compared to analyst expectations for $54.6 billion.
