RBC Capital upgraded Greatland Resources (GGPSF) to Outperform from Sector Perform with a price target of A$15.60, up from A$14.80. The firm is citing three catalysts in its rating change – increased resources, improved near-term production visibility, and optionality around O’Callaghans, the analyst tells investors in a research note. Costs and capex risks remain around bringing additional underground mines into production, but these are manageable given existing infrastructure, RBC added.
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