** Wedbush upgrades deep-sea mining firm TMC The Metals Company TMC.O rating to "outperform" from "neutral"; raises price target to $11 from $6
** Shares up 20.4% in the morning trade
** The new price target represents a 66.4% upside to the stock's last closing price
** Brokerage says TMC is well-positioned due to its first mover advantage in deep sea mining, also receiving significant U.S. support, in a bid to reduce dependency on China in the global supply of critical rare earth minerals
** "TMC finds itself in a unique position within the critical mineral supply chain with minimal competition on the production front over the coming years" - Wedbush
** All 5 brokerages covering TMC rate the stock "buy" or higher; median PT is $6.40 - data compiled by LSEG
** Including session's moves, TMC shares up 600.9% YTD
(Reporting by Sumit Saha in Bengaluru)
((Sumit.Saha@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.