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Ahead of its upcoming results, Ambrian issued a “BUY” recommendation for Petra Diamonds (PDL), with a target price of 91p. The research house thinks upcoming results will be a catalyst for share price growth, especially after the mining group’s management noted that “operational trading is strong, with good price being achieved.” While Ambrian expects diamond price appreciation to continue at a slower rate as re-stocking comes to an end in the second half of 2010, it still doesn’t think current diamond prices are reflected in shares. This is expected to be redressed once results are released, added Ambrian. Petra shares shone, edging forward by 1p to 72.25p.