UBS has upgraded their recommendation on Newcrest Mining (ASX: NCM) to Neutral from Sell on the back of increased long term gold forecasts
Livewire Equities
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UBS has upgraded their recommendation on Newcrest Mining (ASX: NCM) to Neutral from Sell on the back of increased long term gold forecasts. UBS believes sentiment is starting to change to the metal but warns investors against complacency in the short term. The UBS price target has been moved from $6.90 to $11.20. This upgrade follows in the wake of JP Morgan's upgrade of the stock last week. JPM say the company has positive leverage to the gold price, improving production into FY15, and no imminent debt maturities, suggesting NCM is now a positive risk/reward investment opportunity.
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The Livewire Equities feed brings you a range of insights that relate to Australian equities
Livewire Equities
Livewire
The Livewire Equities feed brings you a range of insights that relate to Australian equities
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Livewire Equities
Livewire
The Livewire Equities feed brings you a range of insights that relate to Australian equities
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