Globe says Falconbridge, Inco, others expected to rise
Falconbridge Ltd FL
Shares issued 177,041,400 Aug 31 close $19.05
Fri 1 Sept 2000 In the News
Also Sherritt International Corp (S)
Also Inco Ltd (N)
The Globe and Mail reports in its Friday, Sept. 1, edition that nickel
prices should average $4 (U.S.) a pound this year and $4.25 next year,
analysts at Scotia Capital said in a report last week. The Globe's Tip
Sheet column says as a result, they rate Falconbridge as a "strong buy."
They expects its shares to rise over the next 12 months to $36 (Canadian).
They apply the same rating to Inco Ltd., which they see climbing to $33
(U.S.) on the New York Stock Exchange. Sherritt International, whose shares
they anticipate will advance $6 (Canadian), also gets their nod. However,
they do not rate Inco's VBN shares highly as their "hold" recommendation
indicates. The shares effectively give holders 25 per cent of the profit
from the Voisey's Bay development. Their target price on the stock is $14.
Falconbridge closed yesterday on the Toronto Stock Exchange at $18.95; Inco
at $17.87 (U.S.) on the NYSE and at $26.30 (Canadian) in Toronto, Sherritt
at $5.20 and Inco's VBN at $8.70.
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