UPDATE: Credit Suisse Raises PT on Barrick Gold Following Q2 Wrap-Up

In a report published Wednesday, Credit Suisse analyst Anita Soni reiterated a Neutral rating on Barrick Gold (NYSE: ABX), and raised the price target from $20.00 to $22.00.

In the report, Credit Suisse noted, “Raising TP as ABX improves medium term cash flow and liquidity profile. Focussing on higher margin ounces, Credit Suisse lowers LT production and cost estimates. LT we like mgmt.'s focus on FCF and returns but a few key risks remain, keeping us at Neutral. First, high debt leverage relative to peers, with asset sales needed to expedite de-leveraging. Second, the current gold price, with $1,300/oz a key pinch point. Third is Pascua capex uncertainty.”

Barrick Gold closed on Tuesday at $17.80.