MP Materials Corp. (MP) saw its stock price surge 5.06% during intraday trading on Monday, following positive analyst coverage from Wedbush.

The significant price movement comes after Wedbush initiated coverage of the rare earth materials company with an Outperform rating and set a price target of $90. This bullish initiation reflects analyst confidence in the company's prospects and likely contributed to increased investor buying activity.

According to market data, MP Materials currently maintains an average buy rating among analysts with a mean price target of $78.79, making Wedbush's $90 target particularly optimistic and potentially driving the stock's upward momentum.