Morgan Stanley upgrades rare earth stock, says the U.S. has chosen it as solution to China's dominance

MP Materials is one stock that could benefit as the Trump administration tries to bring the production of rare earths closer to home, according to Morgan Stanley. The bank upgraded the rare-earth miner to an overweight rating from in-line. Analyst Carlos De Alba also raised his price target to $71 from $68.50. Shares of MP Materials have surged 296% this year. De Alba's updated forecast equates to further gains of 15% ahead. MP YTD mountain MP YTD chart As a catalyst, De Alba pointed to MP's development of a "fully domestic rare earth mine-to-magnet supply chain in the U.S.," putting it in the prime position to benefit as the U.S. tries to develop ex-China supply chains. While Beijing has paused its rare earth restrictions for a year, De Alba said that this does not solve critical mineral