Tuesday, September 7, 2010

Eldorado Gold (NYSE:EGO) Downgraded by Credit Suisse (NYSE:CS)

Credit Suisse (NYSE:CS) downgraded Eldorado Gold (NYSE:EGO) from "Outperform" to "Neutral," with a price target of $23 on them.

Even the soaring gold prices today weren't able to lift Eldorado up, as they've been flirting around the level mark, moving slightly down and up throughout the trading session.

As of 1:46 PM EDT, Eldorado Gold (NYSE:EGO) was at $19.06 a share, losing $0.04, or 0.21 percent.

Downward pressure is on the stock since they lost the anticipated takeover bid for Andean Resources (TSE:AND) to Goldcorp (NYSE:GG).

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