Barclays analyst Matthew Murphy raised the firm’s price target on Royal Gold to $119 from $113 and keeps an Equal Weight rating on the shares. While economic growth has remained better than expected, gold is a good hedge against further deterioration in the outlook, says the analyst, who continues to prefer gold over copper equities. A soft economic landing is possible, but monetary tightening is not done yet, contends Barclays.
Published first on TheFly
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