Bernstein analyst Bob Brackett upgraded Newmont (NEM) to Outperform from Market Perform with a price target of $157, up from $121. The firm cites its bullish view on gold for the upgrade. In addition, a new CEO with a clear agenda, achievable guidance, and a “rational reconciliation” with its largest joint venture partner are catalysts for Newmont shares.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NEM: