Equinox Minerals "buy," target price raised03/27/08 -...

Equinox Minerals "buy," target price raised
03/27/08 - UBS
http://www.newratings.com/en/main/company_cr.m?option=cr§ion=company&isin=CA29445L2049&MarketCode=FSE&Symbol=EYO1

NEW YORK, March 27 (newratings.com) - Analysts at UBS maintain their "buy" rating on Equinox Minerals Ltd (EYO1). The target price has been raised from C$7 to C$7.25.

In a research note published this morning, the analysts mention that the uncertainty surrounding the new tax laws in Zambia is expected to have a negative impact going forward on Equinox Minerals’ share price. The actual financial impact of the proposed tax measures on Equinox Minerals’ performance is hard to assess in the absence of details, the analysts add. The potential hike in the tax rate is expected to be more than offset going forward by the rise in copper prices, UBS says.