0245 GMT - Bell Potter is "cautiously bearish" on Lynas Rare Earths, because of expectations neodymium-praseodymium prices will be lower for longer, analyst Regan Burrows says in a note. "LYC has already run ahead of pricing, we estimate the current stock price factors in a circa US$99/kilogram NdPr price into perpetuity," Burrows says. BP estimates a FY25 NdPr price of US$86/kilo. "Whilst LYC has strategic value, its revenue and earnings are still dependent upon a China derived price," Burrows says. The broker has a hold call and A$7.20/share target on Lynas, down from A$7.70 previously. The stock is down 2.4% at A$6.865. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
January 19, 2025 21:46 ET (02:46 GMT)
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