Dahlman Rose Reiterates Buy Rating, $12.52 PT on Molycorp
In a report published Wednesday, Dahlman Rose & Co. reiterated its Buy rating and $12.52 price target on Molycorp (NYSE: MCP).
Dahlman Rose noted, “The company continues to expect Project Phoenix to achieve Phase 1 run-rate by the end of this month, and believes that the 2-stage expansions at Mountain Pass remain on track. Mr. Karayannopoulos joins the former CFO of Neo, offering an experienced executive team to complete the expansions and manage the supply chain. As Lynas Corporation continues to face operational headwinds in Malaysia, we believe Molycorp will benefit, as it is the only other producer of rare earth concentrate and REOs outside of China.”
Molycorp closed on Tuesday at $11.33.
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