In a note released Wednesday, Credit Suisse analyst, Anita Soni upgraded shares of Goldcorp GG from Neutral to Outperform and raised the price target slightly from $32 to $33.
Soni wrote, "Goldcorp is our preferred senior gold stock and the best positioned to weather a lower gold price environment."
As support for the her upgrade, Soni cited the company's "strong" balance sheet, lower cost new mines, longer mine life, and "superior" dividend yield. Additionally, Soni is looking for Goldcorp to produce the highest free cash flows among the senior gold producers by 2016.
in a look ahead, Soni has raised her EPS estimate for 2015 and '16 from $0.84 and $1.11 to $0.94 and $1.21, respectively.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
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