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Fly News Breaks for September 18, 2018
GFI
Sep 18, 2018 | 06:44 EDT
RBC Capital analyst James Bell upgraded Gold Fields to Outperform from Sector Perform and raised his price target to ZAR5,000 from ZAR4,300. The analyst notes that the company's re-investment plan will yield a strong free cash flow inflection in 2019, adding that Gold Fields is also better positioned relative to its competitors based on its "underappreciated" Australia business. Bell further states that while the company's valuation discount relative to its EMEA peers has narrowed, it remains attractive with current multiples now at a 2-year low.
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