Bloomberg News

Koza Anadolu Rises for Third Day in Istanbul on Ekspres Upgrade

July 10, 2012

Koza Anadolu Metal Madencilik Isletmeleri AS (KOZAA), a Turkish miner, rose for a third day after Ekspres Invest put the company on its recommended stocks list, saying new projects offer high growth potential.

The shares climbed 2.7 percent to 3.86 liras at 10:10 a.m. in Istanbul, the biggest jump on a closing basis since June 29. Istanbul-based brokerage Ekspres added Koza to its “long ideas list” while cutting Bizim Toptan Satis Magazalari AS (BIZIM), a discount retailer, according to an e-mailed report today.

Koza Anadolu will benefit from “the exploration of new copper minerals through two new projects, which will diversify the holding portfolio with well-positioned and high-growth promising mining assets,” Ekspres said.

The 12-month price estimate for the share is 5.12 liras, according to Ekspres.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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