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Molycorp (MCP) has its price target lowered again by JPMorgan, this time to $8.50 as the firm...

Molycorp (MCP) has its price target lowered again by JPMorgan, this time to $8.50 as the firm believes additional capital raises will be needed. It was JPM's Mike Gambardella who called out management on this month's earnings call for their inconsistency regarding funding issues and then downgraded the following day (when MCP lost a quarter of its value). Taking a breather from disappearing, shares +1.3% premarket.
Comments (4)
  • SarahKnows
    , contributor
    Comments (74) | Send Message
     
    What was Mike's price target after the IPO? I suspect JP Morgan missed the run up significantly. In my opinion, he is among a legion of hypercompensated analysts whose price targets are discerned through the lenses of company self interest.
    21 Aug 2012, 08:12 AM Reply Like
  • OldenAtwoody
    , contributor
    Comments (22) | Send Message
     
    I suspect that Mike Gambardella is working a plan on behalf of 'some' investors. After the IPO where he so enthusiastically induced investment, he's taken every opportunity to downgrade the stock.

     

    I suspect fraud and collusion.
    21 Aug 2012, 08:32 AM Reply Like
  • jbde
    , contributor
    Comments (665) | Send Message
     
    He simply confirms the low and this current 'kitchen-sink' financing.
    Does he enumerate his reasons they will need more capital or just making an unjustified statement - the latter of course.

     

    He is losing [lost] his credibility and needs to get a job in the real world and leave his fantasy world behind.
    21 Aug 2012, 08:45 AM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    As I suspected, more dilutive financing will be required...I keep asking: will MCP remain a going concern? Where is the bottom?
    21 Aug 2012, 11:59 AM Reply Like
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