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FINWIRES

Macquarie Upgrades Greatland Resources to Outperform from Neutral; Price Target is AU$14

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FINWIRES Analysis

Macquarie's upgrade matches an already-overweight consensus, indicating broad broker conviction on the gold developer. The AU$14 target undershoots the AU$14.56 mean, so Macquarie is constructive but not the most bullish voice. Execution on project milestones and gold prices will determine whether the stock closes the gap to consensus.

What are the key takeaways?

  • Upgrade confirms prevailing overweight street view
  • AU$14 target just below AU$14.56 mean
  • Project delivery and gold prices decisive

Greatland Resources (ASX:GGP) has an average rating of overweight and mean price target of AU$14.56, according to analysts polled by FactSet.

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