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Analyst Actions: Raymond James Cuts Niko Resources Price Target to $49

Raymond James Ltd. analyst Rafi Khouri reportedly said in a research note today that given that Niko Resources' (NKO.TO) Asian-focused exploration program may take a while to bear fruit, investors should stay clear of buying the stock.

Mr. Khouri said "While the company has, in our view, an impressive exploration portfolio, we believe that the current share price does not yet correctly account for the long drilling/development time horizons and the high risk profile of their asset base," the Globe and Mail reported.

Raymond James cut the price target by $6 to $49 and reiterated the "underperform" rating.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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