Shares of Coeur Mining (CDE) are soaring 5.09% during Friday's intraday trading session, following a significant upgrade from Cantor Fitzgerald. The surge in stock price comes as investors react positively to the improved outlook for the mining company.
Cantor Fitzgerald has upgraded Coeur Mining from Speculative Buy to Buy, demonstrating increased confidence in the company's prospects. Additionally, the firm has raised its price target for CDE from $8.50 to $10, suggesting potential upside for the stock. This upgrade aligns with the overall positive sentiment among analysts, as FactSet reports an average rating of Buy for Coeur Mining.
The new price target from Cantor Fitzgerald exceeds the mean price target of $9.31 set by analysts polled by FactSet. This bullish stance from a prominent financial services firm appears to be driving investor enthusiasm, contributing to the significant stock price increase. As Coeur Mining continues to attract positive attention from Wall Street, investors will be closely watching the company's performance to see if it can meet these elevated expectations.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.