Texas Capital last night initiated coverage of Critical Metals with a Buy rating and $20 price target, implying 126% upside. Critical Metals is a mining development company focused on rare earth elements and lithium, the analyst tells investors in a research note. The firm says the company's flagship Tanbreez asset has the potential to be an important component of the Western rare earth supply chain. The project offers a combination of "compelling long-term scale, strong resource quality, and a strategic location serving both the US and European markets," Texas Capital contends.
