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FINWIRES

Macquarie Upgrades Evolution Mining to Outperform from Neutral; Price Target is AU$13

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FINWIRES Analysis

Macquarie's upgrade nudges sentiment toward the consensus, which already sits at overweight, suggesting the broker was catching up rather than leading. Its AU$13 target trails the AU$14.41 mean, implying Macquarie is more cautious than peers even after turning positive. Watch whether other brokers follow or whether gold-price momentum widens the gap to consensus.

What are the key takeaways?

  • Upgrade aligns Macquarie with existing overweight consensus
  • AU$13 target sits below AU$14.41 street mean
  • Gold price direction key to thesis

Evolution Mining (ASX:EVN) has an average rating of overweight and mean price target of AU$14.41, according to analysts polled by FactSet.

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