Evolution Mining upgraded to Neutral from Sell at UBS

UBS analyst Levi Spry upgraded Evolution Mining to Neutral from Sell with a price target of A$3.40, up from A$3.30. Evolution Mining presents a decent copper play on the ASX given the lack of alternate options, and the firm has added some incremental growth back in the medium-term, including Bert at Ernest Henry into its base case which adds A10c/share to its valuation, the analyst tells investors in a research note.