BMO Capital analyst Jackie Przybylowski upgraded Lundin Mining to Outperform from Market Perform with a price target of C$16, up from C$12. Lundin’s valuation is now more compelling, says the firm, which likes the company’s positioning as a near-term “strongly cash flowing defensive name.” The company also has long-term leverage to copper prices through the future development of some of the industry’s best potential major growth projects of the next generation, the analyst tells investors in a research note.
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