UPDATE: Deutsche Bank Upgrades Barrick Gold on Multiple Positive Factors
In a report published Wednesday, Deutsche Bank analyst Jorge Beristain upgraded the rating on Barrick Gold Corporation (NYSE: ABX) from Hold to Buy, and raised the price target from $20.00 to $30.00.
In the report, Deutsche Bank noted, “Our lone upgrade is Barrick, which we raise to Buy from Hold, as we take ‘on faith' management's follow-through to respond to corporate governance concerns, cut costs, slim its portfolio and clear a path to free cash flow.”
Barrick Gold Corporation closed on Tuesday at $18.03.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.