UBS rates BDR as Buy (1) -
Exploration results have yielded further high grades at Tucano.
UBS believes this will ensure an eventual increase in reserves as well as transfer of ounces that were originally to be accessed via the bigger open pit.
A Buy rating is retained based on valuation. Target is 86c.
Target price is $0.86 Current Price is $0.21 Difference: $0.65
If BDR meets the UBS target it will return approximately 310% (excluding dividends, fees and charges).
BDR Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
