** J.P.Morgan upgrades its rating on the MP Materials MP.N stock to "overweight" from "neutral," citing underappreciated national security importance and unmatched earnings visibility

** Shares of the rare earth miner marginally up at $57.7 in premarket trading

** Last week, co's third-quarter loss widened as it stopped sales to Chinese customers as part of an agreement with the U.S. government, although the results surpassed Wall Street expectations

** Brokerage also trims PT by $1 to $74, which still represents a 28.6% upside to the stock's last close on Thursday

** "Although retail-driven volatility will likely persist in the near-term, we believe longer-term focused investors should take comfort in building a position in a government-backed company with unmatched earnings visibility where we see potential upside in the coming years"- JPM

** Average rating of 15 analysts is "buy"; median PT $79 - data compiled by LSEG

** As of last close, co is up nearly 269% YTD

(Reporting by Akriti Shah in Bengaluru)

((akriti.shah@thomsonreuters.com))