UPDATE: BMO Capital Markets Initiates Cardero Resource at Outperform on Valuation, Production
Posted on February 20, 2013 at 08:48 AM EST
BMO Capital Markets initiated Cardero Resource (NYSE: CDY ) with a Outperform rating and a $0.45 price target. BMO Capital Markets commented, "Cardero is rated Outperform (S) based on valuation, near-term production and lower capital requirements. Cardero trades the lowest of the coal group on P/NPV (both BMO's