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Update: BofA Upgrades Eldorado Gold to Buy From Underperform, Lifts Price Target to $54 From $32

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(Updates with the analyst's commentary.)

BofA Securities upgraded Eldorado Gold (EGO) to buy from underperform and raised its price target to $54 from $32.

Following the de-risking of Skouries, the company's "flagship growth asset," the brokerage said it expects free cash flow to increase to $1.5 billion in 2027.

BofA said it also expects Eldorado's gold production to increase by 29% and all-in sustaining costs to fall by 24% in the same year.

Eldorado Gold has an average rating of overweight and mean price target of $47.82, according to analysts polled by FactSet.

Price: $44.33, Change: $+1.96, Percent Change: +4.63%

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