Citi downgrades Oz Minerals (OZL.AU) to Sell from Hold after transfer of coverage, keeps 83 cent target on stock vs OZL latest A$1.045. "Looking at the new OZL, the prime focus will be Prominent Hill, with the mill still effectively in ramp up phase we see a higher level of operational variability/risk within OZL," analyst says, adds Prominent Hill has a limited mine life. "We see limited project optionality and valuation upside in OZL versus its peers," analyst says. Also starts Equinox (EQN.AU) with Buy rating and A$4.00 target, and PanAust (PNA.AU) at Hold, with 42 cent target. (LMF)
OZL Price at posting:
$10.05 Sentiment: LT Buy Disclosure: Held
