Wall Street is Still Pounding the Table Over MP, GPS and NVDA

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

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

Gap (NYSE: GPS): | GPS Price Prediction 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

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.

Analysts at Bank of America just reiterated a buy rating on Nvidia. The firm says NVDA is well-positioned for healthcare and artificial intelligence. According to analysts at UBS, it sees Nvidia guiding fourth quarter revenue to a range of $63 billion to $64 billion. At the moment, the firm has a buy rating with a price target of $235.