The recent announcement by China concerning cutting back exports of rare earths shook up the industry, with Molycorp (NYSE:MCP) attracting significant amount of the focus.
Dahlman Rose is impressed with the potential of Molycorp in light of the China export quota cuts, and increased their price target on them in a big way, boosting it from $49 to $85. Dahlman said they believe the price will be supported by the actions of the Chinese.
Dahlman maintains a "Buy" rating on Molycorp, which was trading at $57.06, up $7.16, or 14.35 percent, as of 11:58 AM EST.
Monday, January 3, 2011
Molycorp's (NYSE:MCP) PT Boosted by Dahlman Rose
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