CIBC UpgradeThe Globe and Mail reports in its Thursday, Feb. 8, edition that CIBC World Markets analyst Allison Carson has upgraded her recommendation for Karora Resources to "outperformer" from "neutral."
The Globe's David Leeder writes in the Eye On Equities column that Ms. Carson boosted her share target by $1.25 to $6.50. Analysts average target the shares at $6.88.
Ms. Carson says in a note: "We are upgrading Karora given the overall shift we expect to see in the company's risk/reward ratio back to reward. We believe the company's capex risk has now been significantly reduced given the Beta Hunt expansion is substantially finished, and we expect to see production growth over the next two years with the completion of this expansion. Additionally, the company has managed to get costs under control and meet guidance for the past two years."