UBS 27/08/2009 1 Upgrade to Buy from Neutral $3.20 14.1%
While the result was in line, UBS has lifted its recommendation on LGL to Buy from Neutral following the recent share price fall.
UBS sees possible positives from resource upgrades and the analysts have lifted their 2010 earnings forecasts by 12% and 2011 by 6%.
More value is expected to come from Lihir and Africa, UBS says, while also lifting its target by 10c to $3.20.
