BofA/Merrill Lynch Upgrades Taseko Mines Ltd. (TGB) to Neutral (Earlier)

BofA/Merrill Lynch upgraded Taseko Mines Ltd. (NYSE: TGB) from Underperform to Neutral with a price target of $2.30 (from $2.60), saying the downside is already reflected in the stock.

Analyst Oscar Cabrera notes shares have lost 29.6% of their value since July 2014 compared to a decline of only 5.4% in the price of copper. He said while the company faces a challenging permitting process at Florence, they belives the slide in the stock is overdone.

For an analyst ratings summary and ratings history on Taseko Mines Ltd. click here. For more ratings news on Taseko Mines Ltd. click here.

Shares of Taseko Mines Ltd. closed at $1.77 yesterday.

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