Canaccord Raises USA Rare Earth (USAR) PT to $33 Following $1.6B CHIPS Program Commitment

USA Rare Earth Inc. (NASDAQ:USAR) is one of the new stocks on the rise. On January 27, Canaccord increased its price target for USA Rare Earth to $33 from $23, while maintaining a Buy rating. This followed the company’s announcement of a $1.6 billion letter of intent from the US Department of Commerce’s CHIPS Program and a collaboration with the Department of Energy. This federal backing led the firm to accelerate its operational timeline and update its financial estimates. Although the firm noted a stru ...