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Breakwater Resources Up 3% despite Credit Suisse Cutting its Target Price

Breakwater Resources (BWR.TO) is up more than 3% as Credit Suisse cut its target price to $6.50 from $7.25 but kept its Outperform rating on the stock ahead of the company reporting Q2/10 operating and financial results August 5.

"Although we have lowered our near-term optimism for zinc and hence Breakwater, we continue to believe that the longer-term fundamentals of the zinc market are compelling and that Breakwater's current share price represents a good entry point to take advantage of the strong financial performance we expect from the company in the next few years," Credit Suisse said in a morning note.

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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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