Canaccord downgraded Develop Global (VTEXF) to Hold from Speculative Buy with a price target of A$4.40, down from A$4.95, after the company strengthened its balance sheet with a fundraising. The timing was “astute,” with the share price at the time of the announcement up 118% over six months, compared to copper being up 12% and zinc down 11% over the same period, the analyst tells investors.
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