GREY:AXXDF - Post by User
Post by
bullbirdon Feb 26, 2014 2:32pm
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Post# 22254863
Globe says Alderon maintained at "top pick-speculative"
Globe says Alderon maintained at "top pick-speculative" 2014-02-26 07:02 ET - In the News
The Globe and Mail reports in its Wednesday edition that Desjardins Securities analyst Jackie Przybylowski likes the power deal between Alderon Iron Ore ($1.89) and Newfoundland and Labrador Hydro, but not enough to boost Alderon's rating. The Globe's Darcy Keith and Jody White write in the Eye On Equities column that Ms. Przybylowski notes the conclusion of the agreement is one of three milestones Alderon has achieved since the beginning of 2014. The others were the release from the provincial and federal environment assessment process, and the confirmation of a power supply to the Kami site. Ms. Przybylowski says: "We believe that accomplishing these milestones was an important prerequisite to securing the previously announced debt project financing. ... With the completion of all targets according to the company's previously released timeline, we believe that the project continues to be derisked, and we are increasingly confident that Alderon will complete its debt and equity project financing within the next few months." Ms. Przybylowski maintained her "top pick-speculative" rating and $2.75 target price. The analyst consensus price target over the next year is $3, according to Thomson Reuters.