Dahlman Rose Reiterates a 'Buy' on Molycorp (MCP); Factoring in Accretion from Neo Materials
Tweet
Share
E-mailGet Alerts MCP Hot Sheet
Price: $0.36 --0%
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 14 | New: 3
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 14 | New: 3
Join SI Premium – FREE
Dahlman Rose reiterates a 'Buy' on Molycorp (NYSE: MCP) price target raised from $50 to $55.
Analyst, Anthony Young, said, "We do not believe that the deal with Neo Materials will close before the end of 2Q12, thus detailed financials of a combined entity will not be released until the company reports 3Q12 results in November. Given the completion of the recent financing, we do not believe there are any other significant hurdles to prevent the closure of this deal. Thus, we are updating our numbers to reflect earnings from Neo Materials for 2013. We believe that Neo Materials will add an additional $0.50 in earnings power to Molycorp, before factoring in any synergies."
Sees FY12 EPS estimate at $1.70 and FY13 at $3.50.
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 $20.22 yesterday.
Analyst, Anthony Young, said, "We do not believe that the deal with Neo Materials will close before the end of 2Q12, thus detailed financials of a combined entity will not be released until the company reports 3Q12 results in November. Given the completion of the recent financing, we do not believe there are any other significant hurdles to prevent the closure of this deal. Thus, we are updating our numbers to reflect earnings from Neo Materials for 2013. We believe that Neo Materials will add an additional $0.50 in earnings power to Molycorp, before factoring in any synergies."
Sees FY12 EPS estimate at $1.70 and FY13 at $3.50.
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 $20.22 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BofA Securities Double Upgrades Sonic Auto (SAH) to Buy
- Raymond James Upgrades Kratos Defense & Security (KTOS) to Strong Buy
- First American Financial (FAF) PT Lowered to $66 at Stephens
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
EarningsSign 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!
