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

By Ian Cooper Published Nov 14, 9:48AM EST

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Wall Street is Still Pounding the Table Over MP, GPS and NVDA — © LALAKA / Shutterstock.com

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): 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): | NVDA Price Prediction 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.

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About the Author Ian Cooper →

Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.

He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.

Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.