Entree Resources downgraded to Hold from Buy at TD Securities

TD Securities downgraded Entree Resources (ERLFF) to Hold from Buy with an unchanged price target of C$2. The firm cites valuation for the downgrade with the shares up 75% year-to-date and through the price target Given the underlying complexity and uncertain timing of Entree’s ongoing arbitration and license transfer efforts, “it is difficult to point to a sure-fire catalyst in the next 12-months,” the analyst tells investors in a research note.