MP Materials price target lowered to $94 from $112 at BofA

Group 1 - BofA has lowered the price target on MP Materials (MP) to $94 from $112 while maintaining a Buy rating on the shares [1] - The firm is updating its price forecasts for North American Metals & Mining stocks under its coverage [1] - The macroeconomic environment is viewed as challenging due to slowing commodity demand from China, but a potential rebound in demand from the U.S. and Europe may offset this [1]