JP Morgan has downgraded Lyc to 75 c concerned about the REE prices
UBS has it at 57c... I just checked the REO prices on the web and cerium Nd and La oxides have been smashed over 15percent in one week.
I'm afraid we maybe seeing a pump here
JP Morgan 07-May-13
Target $0.75 (was $1.00). The broker notes the Malaysian elections have delivered a government that should be favorable to Lynas. And while admittedly good news, it will also allow investors more time to take a closer look at the fundamentals of the business. This is especially the case with rare earths prices, which are definitely not great right now and already down 17% from the start of the year.
Concerned by the direction of prices and feeling the shares have run hard enough for now, JP Morgan ratchets its call back to Neutral.
Downgrade to Neutral from Overweight
UBS 23-Apr-13
Ramp up of the LAMP continued during the March quarter. UBS maintains a Neutral view as, while the company has been cleared to operate and the funding is in place, commissioning could still encounter difficulties. Also, while forecasting output to rise to 21,000 tonnes per annum with phase 2, the ramp up will be dependent on customer demand and UBS notes Lynas is yet to confirm customers for all of phase 2.
The price target is reduced to 57c from 70c.
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