EQN - Credit Suisse rates the stock as Outperform
BY BROKER NEWS - 11/03/2010
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• EQN - EQUINOX MINERALS LIMITED
Underlying full year earnings for 2009 fell short of the broker's forecast, as ore production fell well short of existing capacity.
The broker notes production guidance for FY10 is unchanged, so there are no major changes to its earnings forecasts and no change to its price target.
While the company carries some additional risk in its view the broker notes the stock remains at a material discount to its peers, so it retains its Outperform rating.
Sector: Materials.
Target price is $4.85.Current Price is $3.80. Difference: $1.05 - (brackets indicate current price is over target). If EQN meets the Credit Suisse target it will return approximately 22% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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