Morgan Stanley raises its price target to $57 on Overweight-rated Compania de Minas Buenaventura BVN as exploration efforts may lift reserves, output.
Morgan Stanley says, "BVN 2012 Investor day: management is focused on exploration and on developing its growth projects. We remain OW the stock, due to our positive view on gold and BVN's cheap valuation."
BVN closed at $40.28 a share on Friday.
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