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Fly News Breaks for April 16, 2015
MCP
Apr 16, 2015 | 06:35 EDT
JPMorgan views the rally in Molycorp shares yesterday after the company announced it was chosen to supply rare earths to Shin-Etsu which will be further processed into magnets for incorporation into Siemens' wind turbine generators as "way overdone." The firm believes Siemens is likely sourcing rare earths from multiple suppliers and that Molycorp will still need to undergo an expensive restructure over the next 12 months. It keeps an Underweight rating on Molycorp.
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