Citi 04/02/2010 1 Upgrade to Buy from Hold, High Risk $3.60 25.4% Recent upgrades to Citi's gold price assumption sees increases to EPS forecasts and the target price lift to $3.60 (from $3.40).
The increased earnings and valuation have Citi upgrading the stock to Buy from Hold, with the broker seeing good longer term value in the stock.
However, near term risks such as the lack of a CEO and concerns about the strategic direction of the company has the broker preferring Newcrest ((NCM)) as a large cap gold exposure.
LGL Price at posting:
$2.87 Sentiment: None Disclosure: Held
