MARKET TALK: SB Upgrades Newcrest To Hold 05/16/05 11:52:00
0152 GMT [Dow Jones] STOCK CALL: Smith Barney upgrades Newcrest (NCM.AU) to
Hold from Sell, despite warning that group's Telfer gold mine "could remain the
source of disappointments" in next 6 months. Market hasn't fully appreciated
extent of underground problems, while a further capital cost blowout may be on
the cards. Nevertheless, changes to net present value and gold price outlook
prompt upgrade to Hold, with target price of A$15.00/share, from previous
A$14.70. Newcrest shares down 2.3% at A$13.95. (SPB)
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- ill hit yah up for some high calls goblin..
ill hit yah up for some high calls goblin.., page-5
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