Investor’s Business Daily – Dahlman Rose raised its target price on Molycorp to $85 a share from $49, sending its stock soaring 15% to 57.50, its highest level since it went public in July at $14 a share. Dahlman says the rare-earth metals miner has entered into valuable joint ventures with Hitachi and Sumitomo that will provide it with financing and expertise. It also stands to benefit from scarcity because China said it would reduce exports of the metals, used in phones, hybrid cars and other devices.
Report adds to Molycorp’s ascent (Investor’s Business Daily)
Posted by Yahoo! News: Stock Markets News on January 3rd, 2011