Boliden: Credit Suisse trims target price.
(CercleFinance.com) - Credit Suisse maintains its "neutral" rating on Boliden shares, although has trimmed its target price for the copper and zinc miner from 270 Swedish kronor to 265 Swedish kronor.
"Over the past three years, Boliden has outperformed its mining and smelting pure play peers, driven by operational delivery, a recovering smelting division, a weakening local currency and exposure to zinc, the best performing base metal over the past 18 months," the broker said.
With further outperformance relying on growing tightness in the zinc market, Credit Suisse now sees the risk/reward heading into second-quarter results on 20 July as "less compelling."
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Over the past three years, Boliden has outperformed its mining and smelting pure play peers, driven by operational delivery, a recovering smelting division, a weakening local currency and exposure to zinc, the best performing base metal over the past 18 months," the broker said.
With further outperformance relying on growing tightness in the zinc market, Credit Suisse now sees the risk/reward heading into second-quarter results on 20 July as "less compelling."
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.