Dahlman Rose Raises Price Target On Molycorp (MCP) To 'Street High' $125
Tweet
Share
E-mail
Get Alerts MCP Hot Sheet
Price: $0.36 --0%
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Dahlman Rose raised its price target Molycorp (NYSE: MCP) from $85 to $125, a new Street high. The firm is reiterating their Buy rating on the stock.
The firm states, "We continue to view Molycorp as the best way to participate in the near-term strength that we forecast in the rare earth market. The reason for the increased price target is our comfort with rare earth prices and our belief that prices will exceed our previous expectations. With construction well underway at the Mountain Pass mine and the company having 50+ years of experience separating and processing rare earth elements from this deposit, we believe that the company should be able to quickly ramp production in 2012 when the construction is complete. Further, we like the company's lowcost structure, and we believe that once production commences at this facility the company will look to be a consolidator in the rare earth segment."
For more ratings news on Molycorp click here and for the rating history of Molycorp click here.
Shares of Molycorp closed at $71.52 yesterday.
The firm states, "We continue to view Molycorp as the best way to participate in the near-term strength that we forecast in the rare earth market. The reason for the increased price target is our comfort with rare earth prices and our belief that prices will exceed our previous expectations. With construction well underway at the Mountain Pass mine and the company having 50+ years of experience separating and processing rare earth elements from this deposit, we believe that the company should be able to quickly ramp production in 2012 when the construction is complete. Further, we like the company's lowcost structure, and we believe that once production commences at this facility the company will look to be a consolidator in the rare earth segment."
For more ratings news on Molycorp click here and for the rating history of Molycorp click here.
Shares of Molycorp closed at $71.52 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- New Street Research Upgrades Micron Technology (MU) to Buy
- UBS Reiterates Buy Rating on Hilton Worldwide (HLT)
- Adeia (ADEA) PT Raised to $50 at BWS Financial
Create E-mail Alert Related Categories
Analyst Comments, Hot CommentsSign 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!
