Dahlman Rose Reiterates a 'Buy' on Molycorp (MCP); Adjusting Estimates for Short-Term, Still Optimistic Long-Term
Tweet Send to a Friend
Get Alerts MCP Hot Sheet
Price: $6.67 -2.77%
Rating Summary:
5 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 24 | New: 29
Rating Summary:
5 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 24 | New: 29
Trade MCP Now!
Dahlman Rose reiterates a 'Buy' on Molycorp (NYSE: MCP) price target of $50.00.
Analyst, Anthony Young, said, "We continue to believe that there are several catalysts that should help to push MCP shares higher over the remainder of the year. The most significant of these catalysts will be the Mountain Pass mine achieving commercial production at the end of 3Q12, additionally we believe that the announcement of further off-take agreements and the closure of the Neo Materials deal could also serve as catalysts."
However, Young lowers Q1 EPS estimate from $0.05 to $0.00, FY12 from $2.15 to $1.25 and FY13 from $4.15 to $3.00. He cites lower than anticipated rare earth prices during 1Q12, but maintains 'Buy' on longer-term outlook on shares.
For an analyst ratings summary and ratings history on Molycorp click here. For more ratings news on Molycorp click here.
Shares of Molycorp closed at $26.77 yesterday, with a 52 week range of $23.05-$77.97.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Anthony Young, said, "We continue to believe that there are several catalysts that should help to push MCP shares higher over the remainder of the year. The most significant of these catalysts will be the Mountain Pass mine achieving commercial production at the end of 3Q12, additionally we believe that the announcement of further off-take agreements and the closure of the Neo Materials deal could also serve as catalysts."
However, Young lowers Q1 EPS estimate from $0.05 to $0.00, FY12 from $2.15 to $1.25 and FY13 from $4.15 to $3.00. He cites lower than anticipated rare earth prices during 1Q12, but maintains 'Buy' on longer-term outlook on shares.
For an analyst ratings summary and ratings history on Molycorp click here. For more ratings news on Molycorp click here.
Shares of Molycorp closed at $26.77 yesterday, with a 52 week range of $23.05-$77.97.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Jefferies Lifts Numbers on Diana Shipping (DSX) Post Q1
- Topeka Capital Upgrades Pacific Sunwear of California (PSUN) to Buy
- Goldman Sachs Downgrades Aixtron (AIXG) to Neutral
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
