Morgan Stanley Says Molycorp (MCP) Shares May Rise Amid Investor Day
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Price: $6.73 +0.90%
Rating Summary:
5 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
5 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade MCP Now!
After opening lower and trading in the red for much of Wednesday morning's session, shares of Molycorp (NYSE: MCP) have now turned positive as investors may be buying the stock ahead of Thursday's investor day.
In a note early Wednesday, Morgan Stanley's Paretosh Misra said he will be watching for any hint of de-risking on Molycorp's Mountain Pass mine project. Specifically, Misra will be looking for an update on phase one production, the finalization of contracts, heavy rare-earth discoveries as of late, and details into the magnet joint venture.
The analyst believes shares of Molycorp could rally if management offers the right updates.
Morgan Stanley maintains an Overweight rating and $90 price target on shares of Molycorp.
With the stock last trading around $39.92, Misra's price target suggests potential upside of about 125 percent.
To track all the market-moving analyst calls on shares of Molycorp, visit our Analyst Ratings page.
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In a note early Wednesday, Morgan Stanley's Paretosh Misra said he will be watching for any hint of de-risking on Molycorp's Mountain Pass mine project. Specifically, Misra will be looking for an update on phase one production, the finalization of contracts, heavy rare-earth discoveries as of late, and details into the magnet joint venture.
The analyst believes shares of Molycorp could rally if management offers the right updates.
Morgan Stanley maintains an Overweight rating and $90 price target on shares of Molycorp.
With the stock last trading around $39.92, Misra's price target suggests potential upside of about 125 percent.
To track all the market-moving analyst calls on shares of Molycorp, visit our Analyst Ratings page.
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