RBC Capital upgraded Antofagasta to Outperform from Sector Perform with a price target of 1,800 GBp, up from 1,300 GBp. The analyst says a “rapid tightening” in expected copper supply has brought forward a medium-term bull market. Antofagasta is expensive, but should stay this way with dual drivers for earnings growth, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ANFGF:
- Gold Fields falls over 10% after cutting production volumes, personnel issues
- Buenaventura looks to work with Antofagasta as ‘collaborative partner’
- Antofagasta price target raised by 10 GBp at Morgan Stanley
- Antofagasta upgraded to Buy from Neutral at UBS
- Antofagasta downgraded to Hold from Buy at Jefferies