Silver Standard Resources "neutral," target price raised

12/12/06 - UBS

NEW YORK, December 12 (newratings.com) - Analysts at UBS maintain their "neutral" rating on Silver Standard Resources (SSRI). The target price has been raised from $33 to $34.

In a research note published this morning, the analysts mention that the company has reported an initial resource estimate of 2.35 million ounces of gold for the Snowfield gold/molybdenum project, which is above the estimates. The analysts say that there is significant upside potential to the initial estimate for the Snowfield project. Silver Standard Resources' balance sheet is robust, the analysts add.