UPDATE: Credit Suisse Reinstates IAMGOLD (IAG) at Neutral
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) in Advanced Talks to Acquire B/E Aerospace (BEAV) - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
(Updated - August 18, 2016 9:45 AM EDT)
Credit Suisse reinstated coverage on IAMGOLD (NYSE: IAG) with a Neutral rating and a price target of $5.25.
Analyst Anita Soni said, "Our model is updated to reflect IAG's equity financing, Q2 results and conditional decision to proceed with the Sadiola sulphide expansion. On our final modelling our NAV estimate increases by 5%, driven by Westwood (lower capex) and Sadiola (sulphide expansion). Our H2/16 and 2017 OpCFa declines by 20% to US$0.41/sh from $0.51 on a higher share count, lower production and higher costs. We raise our cash flow target multiple to 10x from 9x, to reflect more ounces modelled with the Sadiola expansion. Our NAV multiple is unchanged at 1.20x."
Shares of IAMGOLD closed at $4.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- PayPal (PYPL) PT Raised to $47 at Credit Suisse; Results Just 'Ok' But Visability Increases Conviction
- FBR Capital Reiterates Outperform on Verizon Communications (VZ) Following Solid 3Q
- Wedbush Reiterates Outperform on Pool Corp. (POOL) Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!