JPMorgan downgraded Northern Star Resources (NESRF) to Neutral from Overweight with a price target of A$17.50, down from A$21.25, after the company released a “disappointing” pre-quarterly update and FY26 guidance. The FY26 outlook was worse than anticipated and the upcoming KCGM site visit is “a logical candidate for an update on the medium term outlook for the project,” with risks to the downside, the analyst tells investors.
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