Dahlman Rose Says Molycorp (MCP) Acquisition Gives Co. 'Strategic Advantage' Over Competitors
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2 Buy, 6 Hold, 2 Sell
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Up: 11 | Down: 18 | New: 17
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Analysts at Dahlman Rose offered some reassuring comments on Molycorp (NYSE: MCP) Friday morning following last night's news of a C$1.3 billion purchase of Neo Materials. Dahlman Rose reiterated a Buy rating and $50 price target on shares of Molycorp.
The analysts said the acquisition gives Molycorp control of "every step along the rare earth value chain, from the mining of the raw materials to the sale of the finished product to the customer." While regulatory hurdles will not ultimately block the deal according to Dahlman Rose, "some concessions may be necessary to appease regulators."
Investors are cheering the acquisition Friday morning. Shares of Molycorp last traded at $29.68, up about 14 percent from Thursday's close.
Visit our Ratings Insider portal to get all the market-moving analyst action on shares of Molycorp.
The analysts said the acquisition gives Molycorp control of "every step along the rare earth value chain, from the mining of the raw materials to the sale of the finished product to the customer." While regulatory hurdles will not ultimately block the deal according to Dahlman Rose, "some concessions may be necessary to appease regulators."
Investors are cheering the acquisition Friday morning. Shares of Molycorp last traded at $29.68, up about 14 percent from Thursday's close.
Visit our Ratings Insider portal to get all the market-moving analyst action on shares of Molycorp.
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