It's amazing how rating changes by the big houses can move markets, when it's only an opinion. UBS must be smacking the price so their clients can buy, imo.
Moly will average about 16.00 for 1Q, up almost 4.00 from 4Q. April moly so far is upper 17s. UBS ups its target price and downgrades the stock. Moly prices point to higher earnings over 4Q. IMO, UBS wants another 2.5% (today's decline) pop for their clients when earnings come out.
Citi did the same thing to PM today......maintained their buy rating, but warned 1Q earnings could be a little short of consensus. That got 3% off 52-week high for the Citi customers to buy in at. Makes me wanna puke.
As a UBS customer, I wasn't real impressed with the report by some kid. Nothing really in except he thought metal prices were going down even though steel demand is high. Not sure why you would downgrade a stock and raise price target at same time.