As previously reported, Scotiabank upgraded Ero Copper to Outperform from Sector Perform with a price target of C$40, up from C$32. The firm has “markedly improved” its near-term commodity price outlook, reflecting the impact of ongoing supply-side challenges in the face of remarkably resilient global demand, and as a result made several target price changes among its mining coverage as well as the one rating change for Ero, the analyst tells investors.
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