Morningstar raises fair value estimate for Northern Star, sees higher bid for firm

By Reuters News

** Morningstar raises its fair value estimate for Australia's Northern Star Resources NST.AX to A$20.50 per share after the gold miner rejected a conditional, non-binding proposal from Gold Fields GFIJ.J

** Investment research firm says Northern Star remains "in play" and a higher offer is likely

** Says the gold miner has also rebuffed a number of approaches regarding potential transactions over the past year

** Six of 15 analysts rate the stock "buy" or higher, nine "hold"; median PT is A$25.65 - LSEG data

** Shares down 12.9% YTD

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