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UPDATE: JP Morgan Upgrades Stillwater Mining to Overweight on Palladium Fundamentals

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Bank of America Initiates Stillwater Mining At Buy

JP Morgan upgraded Stillwater Mining (NYSE: SWC) from Neutral to Overweight and raised the price target from $14.00 to $19.00.

JP Morgan commented, "Palladium fundamentals improving as Russian supplies fall and demand for diesel autocatalysts rise. We believe Russian stockpile sales, which had been more than one million ounces in a 7moz market, are disappearing quickly. Demand for diesel autocatalysts continues to rise. With Europe likely to move to Euro 6 emission standards by 2014, we expect manufacturers to switch to more a cost effective Pt/Pd (2:1) mix thus increasing demand for palladium."

Stillwater Mining closed at $13.55 on Monday.

Latest Ratings for SWC

DateFirmActionFromTo
Dec 2014Bank of AmericaInitiates Coverage onBuy
Oct 2014Goldman SachsInitiates Coverage onNeutral
Aug 2014JP MorganMaintainsOverweight

View More Analyst Ratings for SWC
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Upgrades Analyst Ratings

 

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