Dahlman Rose & Co Increases PT on Molycorp. to $55

According to a research report this morning, Dahlman Rose & Co increases the PT on Molycorp MCP from $50 to $55 as the closure of the deal with Neo Materials approaches. Dahlman Rose & Co concluded, “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.” Molycorp closed Friday at $20.22 as Dahlman Rose maintains its Buy rating.