Let's see what Macquire has to say after upgrading the price outlook for Zinc and Copper.
Surprise.. surprise:
STOCK CALL:
Macquaire upgrades Oxiana (OXR.AU) and Zinifex (ZFX.AU) to OUTPERFORM.
"Both OXR and ZFX earnings outlooks are materially improved by our recent copper price upgrades and our current round of zinc prices upgrades, even as both share prices have muddled sideways to down," broker says.
Adds proposed merger of the miners is likely to be successful without interruption from any other potential suitors.
"The leading candidates to bid for either ZFX or OXR could be content to sit back and target an eventual merged OXR/ZFX as a more significant and easier purchase in the long run."
Target prices of A$4 for Oxiana and A$12.77 for Zinifex unchanged. (APW)
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