Goldcorp (GG): Cutting NAV and Price Target - Credit Suisse

Credit Suisse analyst, Anita Soni, reiterated her Neutral rating on shares of Goldcorp (NYSE: GG) and trimmed her price target to $16.50 from $17.00 on lower NAV after the company's investor day.

NAV drops by 13% to US$8.87/sh from US$10.15/sh (50% weight in our TP), P/NAV target multiple increases to 2.0x from 1.75x to reflect improved clarity on GG's growth outlook, which implies ~8-19% production growth over 2016 to 2020.

For an analyst ratings summary and ratings history on Goldcorp click here. For more ratings news on Goldcorp click here.

Shares of Goldcorp closed at $15.31 yesterday.

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