JPMorgan analyst Dominic O’Kane upgraded Fresnillo to Overweight from Neutral with a price target of 750 GBp, up from 500 GBp. The analyst adjusted European metals and mining ratings heading into the Q1 reports. China’s targeted policy support for manufacturing and infrastructure, inflation stickiness, plus extreme sector underperformance can attract capital into selective undervalued mining equities, the analyst tells investors in a research note.
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