RE: Desjardins UpgradeThe Desjardins Takeaway
We are revising our one-year target price on the shares of HudBay Minerals to C$27.15/share (formerly C$25.20/share)
following an increase in our forecast average zinc price to US$1.80/lb (formerly US$1.40/lb) for 2007. Our estimated 2007 EPS
increases to C$4.18/share from C$3.60/share, and our applied earnings multiple of 6.5x has been adjusted from 7.0x. We
believe the zinc market is well positioned to exit 2006 with prices in the range of US$1.80–1.90/lb. We highlight our adjusted
C$27.15/share target (from C$25.20/share) and Top Pick–Average Risk recommendation on HudBay Minerals shares.
----------Original Message Posted 12/12/2006----------
what is their target?