J.P. Morgan Calls Goldcorp "Golden Tsunami" (GG)

J.P.Morgan Chase & Co. has Goldcorp GG at Overweight, with a $47 price target, as it keeps acquiring assets to fuel growth. In the research note, J.P. Morgan writes, "Goldcorp is like a golden tsunami, using its market power to capture the assets it wants. The new assets then become fuel to its growth profile and support its market rating. The other majors have had this strength in the past but grew to a size that made further growth difficult. Goldcorp's latest prize is Andean Resources after highly rated Eldorado announced an end to its bid. We believe the addition of Andean's Cerro Negro project adds further growth potential to GG, maintaining the stock's momentum, and we maintain our Overweight rating." Shares of GG gained 2.4% or $1.04 to close at $43.70 yesterday. See 4 Strong Buys here for free.