RE:RE:Laurentian Bank coverage initiated with price target of $1.5
Apparently Mr. Allen took another look and has now updated his target to $2.50. Here is the latest from the Globe and Mail: Believing its share price is well-supported by good underlying value, Laurentian Bank Securities analyst Barry Allan has a buy rating for Marathon Gold Corp. (MOZ-T). The Valentine Lake project is an important new gold resource of the size and quality to justify mine development, he said when initiating coverage of the stock. Compared to a peer group of other development-stage companies, Marathon Gold offers a good operating jurisdiction and usually good access to infrastructure, for a project at this stage of development. The management are a group of successful geologists who have the skill-sets to advance the project through to a feasibility study. Considerable up-side to the resource remains to be tested. Mr. Allan has a $2.50 target, which exceeds the average of $1.94.