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Barclays has initiated coverage of the entertainment company with an “overweight’ rating and a 390p price target. Past growth secured by strong brands in an expanding segment convinced the analysts that the company could deliver long-lasting results.
Cannacord Genuity reiterates its ‘buy’ rating on Petropavlovsk but lowers its target price to 90p from 190p. It expects large cuts to earnings and lower cash flow due to its recently announced significant resource addition from its exploration programme.