Southern Copper price target raised to $55 from $53 at Scotiabank

Scotiabank raised the firm’s price target on Southern Copper to $55 from $53 and keeps an Underperform rating on the shares. The recent rally of the stock’s shares has results in a “sharp deterioration” of the stock’s risk/reward propositions, the analyst tells investors. Upside for the stock is only reasonable under aggressive growth and copper pricing assumptions, the firm adds.