Molycorp (MCP) +6.5% premarket after Morgan Stanley says a recovery may be in store for...

|By:, SA News Editor

Molycorp (MCP) +6.5% premarket after Morgan Stanley says a recovery may be in store for rare-earth prices after a YTD 25% drop. Yttrium prices rose in February, which could be followed by a rebound in magnetic rare earths, MS says, adding that a seasonal pickup in demand also will help stabilize prices. The firm reaffirmed its Overweight rating and $81 target price.