UBS analyst Daniel Major upgraded Lundin Mining to Buy from Neutral with a price target of SEK 95, up from SEK 80. Despite short-term risks to copper prices, Lundin’s medium-term outlook is “increasingly compelling” and the market is closer to a fundamental inflection point, the analyst tells investors in a research note. The firm says the company offers leverage to copper price upside, has an attractive valuation, and expectations on base production have been reset.
Published first on TheFly
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