Morgan Stanley analyst Ioannis Masvoulas upgraded Lundin Mining to Overweight from Equal Weight with a price target of C$12.80, up from C$9.10. While copper equity valuations "appear stretched" following the recent run, sentiment and supply risks could carry the sector higher near term, the analyst tells investors in a research note. The analyst sees catch-up potential in shares of Lundin.
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Published first on TheFly
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