Neo Performance Materials Inc NOPMF

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Canaccord Genuity’s Yuri Lynk raised his target for Neo Performance Materials Inc.  to $27 from $25, reiterating a “buy” rating. The average is $27.50.

“High rare earth prices and the company’s strategic initiatives should continue to drive strong results,” said Mr. Lynk. “We expect volumes in the quarter to remain impacted by the lockdown in Malaysia that closed most factories during September/October, severely affecting the world’s supply of semiconductors. Nonetheless, we believe margins should continue to benefit from rare earth prices that continue to trade higher.”