By: Benzinga
UPDATE: BMO Capital Markets Initiates Cardero Resource at Outperform on Valuation, Production
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
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