Research Capital Raises Price Target to $3.25Research Capital raises their price target to $3.25. Expect others to follow suit in the coming days.
Overall, we think that the investment by Anglo is extremely important. To our knowledge,
this is the first time a major mining company has invested in a bulk tonnage project like
Crawford and we believe it reinforces our view that Crawford (and similar deposits) will
be part of the future of nickel production. We reiterate our SPECULATIVE BUY rating
and we are raising our target price to $3.25/sh from $2.70/sh, previously, to reflect the
reduced debt and involvement of a major mining company.