Bank of America upgraded Randgold Resources GOLD from Neutral to Buy with a $137.36 price objective.
Bank of America said, "Since Q3 results disappointed, the shares have underperformed the gold price by -11%. We now believe several headwinds are receding and current valuation at 1.3x P/NPV is close to historical lows. We do see FY2012 production coming below guidance, but we have been flagging this since the poor Q3 results and see as priced in. French intervention in Mali could see the conflict there resolved sooner and more decisively, removing a risk overhang."
Randgold Resources closed at $96.26 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in