upgraded again, by csla,,newswire for your info,,,no choice but to close out and take an early easter...
DJ MARKET TALK: Newcrest Up 1.7% After CLSA Upgrade To Buy
2351 GMT [Dow Jones] STOCK CALL: Newcrest (NCM.AU) is up 1.7% at A$29.27 after CLSA upgraded it to Buy from Outperform, with a A$37 price target, after the share price fell to a 2 1/2 year low of A$28.70 Wednesday following gold price weakness and production downgrades. "Included within the MOPU (Million Ounce Plant Upgrade) expansion is a major upgrade of the electrics within the process plant (at Lihir) and we believe once MOPU is commissioned later this year the reliability of the plant should improve," the broker says in a report. "Commissioning of Cadia East and MOPU and the release of the Wafi Golpu pre-feasibility study provide three significant catalysts for the stock this year." CLSA says while there is some risk of further production misses due to inclement weather in Australia and MOPU only coming online at the end of the year, this appears to be more than captured by the recent share price fall. ([email protected])