Wednesday, October 6, 2010

Gammon Gold (NYSE:GRS) Upgraded by Credit Suisse (NYSE:CS) to "Neutral"

Credit Suisse (NYSE:CS) has upgraded Gammon Gold (NYSE:GRS) from "Underperform" to "Neutral."

Gammon has struggled through the last year, although after bottoming out in July, they've gradually been coming back. They reached a high of $12.63 during that time.

They just signed a deal with Capital Gold Corporation (AMEX:CGC) acquire them, giving Gammon an even stronger presence in Mexico.

Gammon Closed Tuesday at $6.99 a share, gaining $0.18, or 2.64 percent.

Credit Suisse increased the price target on Gammon from $6.50 to $7.50.

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