Yes, Morgans have today upgraded Mineral Resources shares.
Their analysts upgraded the shares to an "Add" rating and increased the price target to $23.00. This upgrade followed a quarterly update that showed production in line with expectations and better-than-expected costs.
Key details of the upgrade:
Morgans upgraded: The shares were upgraded to an "Add" rating.
Price target increased: The price target was lifted to $23.00.
Reasoning: The upgrade was based on a quarterly update that showed production as expected and costs lower than anticipated.
Onslow Haul Road: Morgans noted that the Onslow Haul Road upgrade is progressing well and is expected to be completed later this year, which is expected to drive a significant increase in production.
Broader market factors: Morgans also upgraded the broader mining and metals sector, reflecting improving fundamentals and a projected rebound in commodity prices, including copper.
Motley Fool just copied to their client this Morgans broker upgrade for a TP 23.00
Stockinvest.us has today called for a daily high of 22.14 today trading range, nowhere near that yet.
Bell Potters issued a broker upgrade this morning with TP of 29.60
(posted in the other thread, see copy below)
Macquarie upgrade call of 36.00 last week (smart call)
Only Goldman is negative due to the bond debt but thats preQR3 and stale & the bonds are trading strong
UBS is calling a HOLD for 28.60
Was trading at 25 a few weeks ago !
Looks like a run up happening as the herd realises MIN is way way undervalued and oversold imho
MIN Price at posting:
$20.56 Sentiment: Buy Disclosure: Held
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