Deutsche Bank Upgrades Coeur d'Alene Mines (CDE) to Hold
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Deutsche Bank upgrades Coeur d'Alene Mines (NYSE: CDE) from Sell to Hold with a $10 price target.
The firm said, "We recently met with Coeur D'Elaine (CDE) management as part of our Chicago Basic Materials conference and came away favorably impressed with strides the company has made in fortifying its balance sheet (mainly through the conversion of debentures to equity) and ramping up its greenfield 9m oz. Palmarejo silver project in Mexico. Additionally, a Supreme Court ruling related to its Kensington gold mine removes a legal overhang. Hence, on declining balance sheet/execution risk, and with the shares trading near our US$10/share Price Target we shift our rating from Sell to Hold, while keeping our recent earnings forecasts intact."
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Re Deutsche Bank up Grade of CDE
Downunder on Jun 23, 2009 02:46 AMDeutsche are manipulators & part of the USA Precious Metal Shorting team. Their "Opinion" is not worth having - -their credibilty in my opinion is NIL!