Raymond James yesterday upgraded Ero Copper to Outperform from Market Perform with a price target of C$36, up from C$34. The firm believes a “step change” in copper production starting in Q3 and growing through 2025 will translate into strong cash flow and EBITDA growth for the company, Further, the valuation for Ero does not fully reflect the growth expected to begin in Q3 as compared to copper peers, the analyst tells investors in a research note.
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