BUZZ-Citi lifts PT on Northern Star; upbeat on De Grey buy

Reuters
03-14
BUZZ-Citi lifts PT on Northern Star; upbeat on De Grey buy

** Analysts at Citi lift PT on Australian gold miner Northern Star Resources NST.AX to A$18 from A$17.9

** Brokerage says an independent expert review found that De Grey Mining's DEG.AX valuation, a takeover target for NST, is around A$4 bln ($2.51 bln) to A$4.8 bln ($3.02 bln)

** Brokerage flags that the review price is below the $5 bln (A$7.95 bln) amount NST has offered, but aligns broadly with consensus

** Notes DEG's ramp-up profile is "optimistic"

** Nine of 15 analysts rate the stock "buy" or higher, six "hold"; their median PT is A$20.25, according to data compiled by LSEG

** NST up 12.6% YTD

($1 = 1.5908 Australian dollars)

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))

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