UPDATE: Credit Suisse Reiterates Neutral Rating, Raises PT on Alamos Gold Following Esperanca Resources Acquisition Announcement

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In a report published Monday, Credit Suisse analyst Anita Soni reiterated a Neutral rating on
Alamos GoldAGI
, and raised the price target from $13.00 to $14.00. In the report, Credit Suisse noted, “On July 12th before market, Alamos (AGI) announced the friendly acquisition of Esperanza Resources (EPZ) We increase our TP to $14 on good deal value, removal of M&A overhang Deal is accretive to AGI, we roughly estimate $108M in LOM incremental cash flow at spot gold Project permitting does not appear to be an insurmountable challenge based on our preliminary assessment.” Alamos Gold closed on Friday at $12.98.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsAnita SoniCredit Suisse
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