Metals Acquisition price target lowered to $13 from $14.50 at Scotiabank

Scotiabank lowered the firm’s price target on Metals Acquisition (MTAL) to $13 from $14.50 and keeps an Outperform rating on the shares. The firm is revisiting its price targets on companies in the Metals & Mining sector during this period of uncertainty, the analyst tells investors. The firm has reduced its near-term commodity price expectations and compressed its equity multiples for most miners. Additionally, while valuations appear attractive, further downside risks are very possible, Scotiabank adds.