Equinox upgraded to Outperform on Greenstone deal at National Bank

National Bank analyst Mike Parkin on Friday upgraded Equinox Gold to Outperform from Sector Perform with a C$10.25 price target following a period of restriction. The firm citers the company’s improved jurisdictional risk profile and increased near-term production growth for the upgrade following the Greenstone acquisition. The analyst likes the deal, saying it adds more of the best asset in the portfolio on a geopolitical risk and cash margin basis at a “fair-to-good price.”