** Jefferies raises price target on rare earths producer MP Materials MP.N to $32 from $30
** New PT a 21.4% upside to the stock's last close
** On April 17, company said it had ceased shipments of rare earth concentrate to China, in response to retaliatory tariffs and export controls
** Brokerage says company will likely build rare earth oxides (REO) inventory near-term to serve future non-China sales while accelerating both midstream and downstream production
** "Longer-term, MP shares likely respond most favorably to government policy that stimulates demand, and least to government policy that stimulates supply" - Jefferies
** 9 of 12 brokerages rate the stock "buy" or higher, 3 "hold"; their median PT is $28 - data compiled by LSEG
** Up till last close, stock up 60.8% YTD
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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