what do the big instos have to say, page-8

Macquarie seems to have upgraded their price target by 5c
from 50c to 55c
A little bit positive

here is the original
"Macquarie has an UNDERPERFORM recommendation and 50c target price. They say “while on our metals price forecasts OZL's assets offer greater value than is currently being reflected in its share price, confidence in debt and equity markets remains very low, and OZL's value proposition may well prove illusory in the event refinancing is unable to be negotiated."

Here is the upgrade


"OZL - Oz Minerals– had an update on its refinancing negotiations. OZL indicated it incorrectly reported the limit on ‘Facility A’ in the 4 December release as US$525m, with the facility drawn to US$420m. The facility limit is in fact US$420m with a letter of credit tranche of A$25m drawn to A$15m. Macquarie Group keep UNDERPERFORM and 55c target. Said OZL is continuing to investigate asset sales including the Martable gold project and a JV agreement on Prominent Hill. Drops FY09 and 10 earnings by $0.03 and $0.02 due to higher interest expense and higher costs."