As previously reported, Morgan Stanely analyst Piyush Sood upgraded Newmont Mining (NEM) to Overweight from Equal Weight, stating that its stronger execution, steadier production profile, deeper project pipeline, better reserve life, and lower leverage lead him to prefer its shares over Barrick Gold (ABX). Despite the latter stock having recently underperformed peers, Sood downgraded Barrick Gold to Underweight from Equal Weight after switching to a market valuation from a net asset value for its Tanzania operations. Sood lowered his price target on Barrick shares to $12 from $14 and raised his price target on Newmont shares to $40 from $37.