CIMB Securities 12-Mar-13 The broker has upgraded OZ Minerals to Outperform from Neutral as strong cash flow and recent share price underperformance provide a trading opportunity.
The broker believes the company should generate strong operating cash flow from Prominent Hill over the remainder of the mine life, despite being a bit sceptical of the plans to extend underground given the volume of ore required to justify it. The target price is raised to $8 from $7.17.
OZL Price at posting:
$5.82 Sentiment: Hold Disclosure: Held
