Dahlman Rose Reiterates a 'Buy' on Molycorp (MCP); Imminent Project Completion to Drive Shares Higher

Dahlman Rose reiterates a 'Buy' on Molycorp (NYSE: MCP) price target of $70.00.

Dahlman analyst said, "We anticipate that the completion of construction will prove to be a near-term catalyst for shares...We see compelling value in the shares, with the company able to generate significant profitability and cash flow as soon as 2013, the first full year of commercial production. We calculate the company will generate $700 million in EBITDA in 2013. Given an expansion project that is already underway, we anticipate that earnings power will continue to trend higher in 2014, when the Mountain Pass mine is complete."

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 $25.50 yesterday.

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