UPDATE: DA Davidson Starts Molycorp (MCP) at Buy

April 2, 2013 7:42 AM EDT
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Price: $0.36 --0%

Rating Summary:
    2 Buy, 6 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 25 | Down: 37 | New: 115
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(Updated - April 2, 2013 9:01 AM EDT)

DA Davidson initiated coverage on Molycorp (NYSE: MCP) with a Buy rating and a price target of $7.00. Analyst Avinash Kant believes a lot of negatives are already priced into Molycorp stock. While it may take time for rare earth prices to stabilize and additional capacity at Molycorp to ramp, he sees upside from current levels and thinks the stock could reach $10 within 5-years.

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 $4.91 yesterday.

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