Morgan Stanley upgraded Fresnillo to Equal Weight from Underweight with a 480 GBp price target. The analyst now sees a balanced risk/reward, saying the shares are trading close to their historical average multiple following a 50% drop since January 2023 due to inflationary pressures, operational issues, and weak silver prices.
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Read More on FNLPF:
- Fresnillo price target lowered to 540 GBp from 625 GBp at UBS
- Fresnillo price target lowered to 480 GBp from 510 GBp at Morgan Stanley
- Fresnillo price target lowered to 550 GBp from 600 GBp at JPMorgan
- Fresnillo price target lowered to 490 GBp from 670 GBp at Berenberg
- Fresnillo price target lowered to 530 GBp from 630 GBp at RBC Capital